Tax Season is a stressful time for many. But did you know if you’re one of the fortunate people expecting a tax refund this year, you could use it to get out of debt permanently? I know many folks use their refund to pay down credit cards or medical bills. But as a Memphis bankruptcy claim attorney, I can tell you that with bankruptcy you can achieve lasting relief from debt, not just a temporary holdover.

Here are four reasons why using your tax refund to file for bankruptcy could be the choice that changes your life for the better.

1. No more harassing calls from creditors.

Unfortunately, if you’re behind on your bills, creditors are empowered by law to call and harass you. The good news is that bankruptcy stops creditor calls for good. Once you file bankruptcy, the law prevents creditors from contacting you to collect debts.

2. Get out of the interest fee spiral.

Let’s say you use your tax return to pay down your credit card. But after your payment, you’re still left with $5,000 in credit card debt with a 15% interest rate. At the minimum payments, that could take you more than ten years to pay off. Plus, with fees and interest, you could quickly find yourself in the same amount of credit card debt as before. Bankruptcy helps you get out of the interest fee spiral by wiping out credit card debt completely. This gives you a clean slate to start fresh and rebuild your credit score.

4. Keep your property. 

Many Americans are just one mortgage payment away from losing their property. Bankruptcy ensures you keep your car and your home. This means you can get your financial life back on track without the fear of your car being repossessed or your home being foreclosed.

3. Get a fresh start.

Bankruptcy is a big decision, I understand why it feels overwhelming to people. But as an attorney who has helped thousands of clients, I’m here to tell you bankruptcy is only the beginning. It isn’t always an easy process, but it has the power to make dreams – like sending your kids to college, or buying a house – possible.

Talk to a Memphis bankruptcy claim attorney for FREE.

Whether you are struggling with back taxes you owe from previous years or are expecting a nice check in the mail, I can help your refund go further. Call us at (901) 327-2100 or contact us online to set up a consultation – it’s absolutely free. Our team of experienced and compassionate lawyers are here for you.

Throughout my 40-year career, I’ve helped many determined people use their return to file for bankruptcy and create an incredible new life. I can help you too.  Call us today to hear how we can help.