Hi my name is Shelly and I am here on behalf of the Houston Lawyer Referral Service and I would like to take a few moments to talk to you about bankruptcy.
Given the influx of unemployment and the potential for future job loss it is inevitable that our communities will suffer financial distress.
If you are suffering financial distress I would like for you to consider filing bankruptcy. Bankruptcy is the strongest tool any debtor can have against any creditor. Once the bankruptcy petition is filed all collection efforts must cease.
That means no foreclosures, no repossessions, no garnishments and no harassing phone calls. In addition to that the bankruptcy code provides several provisions that are extremely advantageous to the debtor. For example interest on vehicle loans can be reduced to approximately 6%.
In other cases the principal balance owed on vehicle loans can be substantially reduced. If you are upside down on your home the second liens that are attached to your home can be stripped which means you don’t have to pay them.
Finally in certain circumstances IRS debt can be extinguished in a bankruptcy. So if you are suffering financially please considering filing bankruptcy and give the Houston Lawyers Referral Service a call, to get in contact with a bankruptcy attorney.