If you are drowning in debt at the start of the new year, this may be the time you finally do something about it. Filing for bankruptcy can help you eliminate financial stress, and perhaps forces you to make smart decisions about your money to enhance your life.

The following are several reasons to file for bankruptcy and finally do something about that debt you've been struggling to overcome:

1. Eliminate credit card debt. Whether you are missing payments on your credit card, making the minimum payments, or if the credit card companies increased your interest rates, you must look for new ways to get it paid off once and for all.
2. Get rid of medical debt. One of the main reasons many people file for bankruptcy is medical debt. Even if you have insurance, the co-pays may be unexpected and too much to handle on your own. While you can try to negotiate a reduced payment, or schedule payments, bankruptcy might be a viable alternative if you can't fulfill those payments.
3. Stop hearing from bill collectors. This is another main reason why people file for bankruptcy because they get tired of all the calls and letters. If you have too many accounts to manage, filing for bankruptcy will force those calls and letters to stop for good.
4. Stop foreclosure, wage garnishment, repossession, etc. Since bankruptcy can stop bill collectors from calling and demanding payment, bankruptcy can prevent foreclosure of your house, repossession of your vehicle or other collateral, wage garnishments, or a lawsuit being filed against you for financial reasons.
5. Eliminate stress. Financial issues are often the main cause of stress, which can negatively affect your life. It causes you to worry excessively, or perhaps strain in a marriage. Once that stress is gone, you can finally take the time to improve the quality of your life.

At Bruce W. White, P.C., we can thoroughly review your financial situation and determine all of your available legal options in order to obtain the most favorable outcome possible, with or without the help of bankruptcy. With more than 30 years of experience, we understand what it takes to help you on your path to financial independence.

If you are interested in filing for bankruptcy in Virginia, schedule a free consultation with our Richmond bankruptcy lawyer today.