The phone rings and you are overcome with a feeling dread. Is it another creditor calling you again demanding payment?
For many people this is an everyday occurrence. But it doesnt have to be. If you are in financial trouble and there seems to be no way out, bankruptcy may be the answer. Although it may be a difficult decision to come to, filing bankruptcy can put an end to those demanding phone calls from creditors.
Laws in Place to Protect Borrowers
It can be very frustrating not being able to pay back debts. However, many people find themselves in this predicament where they have borrowed more money, or ran up more credit than they can afford to pay back. And once you get behind on bills, the creditors are relentless and call morning, noon and night demanding payment. You may make promises to pay and then find there is just never enough money to make good on those promises. Once your back is against the wall and you are forced to file for bankruptcy, the harassing phone calls should stop.
Before you file for bankruptcy it is important to find out what the bankruptcy laws are when it comes to creditors. The bankruptcy laws were designed to provide protection for you the consumer against the continued harassment from creditors.
According to the bankruptcy laws, after the borrower has filed for bankruptcy the creditors are not allowed to contact the borrower. However, some creditors plead ignorance of the law and keep on calling.
If the harassment from creditors continues, you may need to seek the legal help of an experienced attorney who knows the bankruptcy laws. This attorney can contact these offending creditors and put a stop to the threatening calls and mail. Although hiring an attorney may cost you some cash, it will provide you with some much-needed relief from creditors.
Once you have an attorney on your side they not only can put an end to harassment from creditors but they can also help walk you through the tangled web of the bankruptcy process. Although filing bankruptcy may not have been a personal goal of yours, in a tight situation it can provide you with some relief and having an experienced attorney can help ease you through the process. Hopefully in the end, you will be happy to answer the phone again.