Greenbelt, MD - In a website post, The Philips Law Offices shared the benefits of declaring bankruptcy.

When people are struggling with personal debt and are unsure if they have any options remaining, bankruptcy might be the right move for them. Luckily, with the help of bankruptcy attorney Greenbelt, bankruptcy provides people with a means to start over financially and rebuild their credit.

When people file for bankruptcy, an automatic stay is issued, meaning that creditors are legally prevented from making contact with debtors regarding their debt. This relieves people from constant phone calls, letters, and other forms of contact that can be very stressful.

The bankruptcy lawyer in Greenbelt also noted that bankruptcy can also stop mortgage foreclosure, or people having to sell their homes at a lower value, by allowing them to catch up on payments while reducing their monthly payments. The debt relief lawyer Greenbelt also shared the benefits of Chapter 13 bankruptcy. Chapter 13 bankruptcy is a form of debt reorganization that can help people pay off their debts over a certain period.

The law firm noted that people considering bankruptcy should speak with a bankruptcy attorney who is knowledgeable in bankruptcy law to determine if it is the right option for them.

About The Phillips Law Offices

The Phillips Law Offices is a bankruptcy law firm in Greenbelt. For 12 years, the law firm has helped thousands of individuals and business owners start afresh with their finances by providing various services such as consumer debt relief, corporate restructuring, foreclosure prevention, and adversary proceedings.

Media Contact
Company Name: The Phillips Law Offices LLC
Contact Person: Jill Phillips, Esq
Email: Send Email
Phone: (301) 494-4250
Address:6301 Ivy Lane #700
City: Greenbelt
State: Maryland
Country: United States
Website: phillipslaweast.com