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Filing for bankruptcy can put an end to debt anxiety

One of the worst things about being in debt is the anxiety and stress it creates. It's hard to enjoy life when you are constantly worried about how you are going to pay the bills. It's exhausting to always have to choose between paying the electric bill or the credit card bill.

Constant phone calls and threatening letters from creditors can wear a person down emotionally. Perhaps worst of all is the fear: of foreclosure, of losing everything you've spent a lifetime working for. Hard-working Massachusetts families who are over their heads in debt may worry that they will never be able to dig themselves out.

Nobody should have to live with this kind of anxiety. Personal bankruptcy can bring an end to the fear and hopelessness of being deeply in debt. Bankruptcy is a legal procedure in which a person can get relief from debt. In a Chapter 7 bankruptcy, some of the debtor's assets may be sold to pay creditors. The creditors may not be paid in full and some may not be paid at all. But, once the debtor's non-exempt assets have been sold off, the bankruptcy court discharges most or all of the remaining debt.

Some debts, such as back taxes and student loans, are hard to get discharged in a personal bankruptcy. But, by eliminating other debts, bankruptcy can often free up enough funds to allow the debtor to afford the back tax or student loan payments.

At the Law Offices of Kenneth E. Lindauer, we are committed to helping Massachusetts residents get free from debt. You can learn more about how we can help on our Chapter 7 Bankruptcy web page.

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