When people are faced with overwhelming debt, it's possible to get a pressing urge to file for bankruptcy. However, before making any decisions, it's crucial to consult with a bankruptcy attorney to understand your options and make the best decision for your unique situation. The bankruptcy process has far-reaching implications in all aspects of life, including personal relationships. A bankruptcy lawyer can advise you on the following:
1. Whether or Not Bankruptcy Is the Right Option for You
When you aren't up to date with your credit card debts or other debts, your creditors can file a lawsuit against you. While you can stop your creditor's lawsuit by filing for bankruptcy, there are certain lawsuits that bankruptcy can't stop. Here are answers to common questions on using bankruptcy to discharge lawsuits.
How Does Bankruptcy Stop a Civil Lawsuit?
Filing for bankruptcy can stop civil lawsuits through a legal concept known as an automatic stay.