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The Pros And Cons Of Filing Bankruptcy

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Filing bankruptcy is one of the most significant financial decision you can make, so you should not do it without having a thorough understanding of how federal bankruptcy laws will apply to your unique situation. Before you file, you should take into the benefits and drawbacks.

Below are the pros and cons of filing a bankruptcy petition:

The Pros and Cons of Filing Bankruptcy

Benefits

Filing bankruptcy will provide you with some financial relief and will help you get back on your feet. A successful bankruptcy petition will get rid of most of the debt you incurred prior to filing, as well as some taxes. If you are granted an automatic stay then creditors will no longer be able to garnish your wages. An automatic stay will also stop bill

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