Reasons for Filing for Bankruptcy:Unsecured Debt

So far, we’ve brought up two great reasons you might want to consider filing for bankruptcy.  By filing for bankruptcy you can shut out those harassing creditors, and you can even stop foreclosure on your home.  Filing for bankruptcy isn’t just about wiping the slate clean and getting a fresh start.  The legal sanctuary offered by the bankruptcy process provides those who face undue financial hardship with a lot of advantageous perks.

Restore Utilities and/or Prevent Shutoff

Losing electric or gas service to your home isn’t just uncomfortable.  It can be humiliating and extremely dangerous, too.  As someone who’s providing for a family, you simply can’t stand to see this happen to those that you love.  Of course, you are doing everything in your power to pay those bills, but faced with all of the debts and creditors that are constantly closing in, it just isn’t always possible.

When you enter into the bankruptcy process, the utility company is required to restore service that was terminated prior to your filing.  Also, once you are filing for bankruptcy, service cannot be terminated.

You will have to pay a new security deposit to establish your account with the utilities company; however, this fee is certainly worth having a utility provider!  While every provider has different policies, typically you’ll receive services that correspond with your average monthly usage.

If you’re afraid of losing your power (especially dangerous in months of extreme temperatures), filing for bankruptcy can relieve you of this fear.