Monthly Archives: April 2020

5 Chapter 7 Bankruptcy Benefits You May Not Know About

If you are like most people, you know that Chapter 7 bankruptcy can give you major debt relief. What you may not realize, however, is that Chapter 7 offers you quite a few additional benefits as well. Here are five facts to consider.

Photo by Melinda Gimpel on Unsplash

1. Immediate Relief

As any Rockville bankruptcy lawyer can tell you, Chapter 7 represents the quickest form of bankruptcy. You can expect only three to four months to elapse from the time you file until the time of your ultimate discharge.

2. Numerous Exemptions

Most people mistakenly think that they will lose everything they own if they file bankruptcy. Such is not the case. Not only does Chapter 7 include many exemptions that let you keep much of your property, but you can also keep your wages or salary.

3. Virtually Unlimited Debt Relief

Chapter 7 sets no cap on the amount of debt relief the bankruptcy court can grant you. You can, therefore, expect the discharge of virtually all of your consumer debts, including your credit card debts.

4. Automatic Stay Period

One of the biggest advantages of Chapter 7 in terms of relieving your stress is that once you file, the court issues an automatic stay. This means that all of your creditors must cease and desist calling you on the phone or sending you texts, emails, and/or snail mail demanding that you pay them.

5. Relatively Quick Post-bankruptcy Credit Reestablishment

While it is true that filing bankruptcy will result in the loss of all of your credit cards, in all likelihood this won’t affect you too much since most of your credit card companies have probably already canceled their respective cards. Once your bankruptcy period ends, it should take you no longer than a year or two to reestablish your credit. You can expect to pay higher fees and interest rates for your initial post-bankruptcy credit cards, but if you use them for small purchases only, paying the full balances each month, you can renegotiate their terms after as few as six months. You can also apply for new credit at that point, having already proved your financial responsibility and excellent payment record.

Different Treatments for Emotional Trauma

If you’ve experienced emotional trauma in your life, you might be experiencing the negative effects of a traumatic event. Perhaps you deal with anxiety on a daily basis or maybe you drink alcohol or use drugs to drown your sorrows. Whatever the case, you should consider treatment for your emotional trauma. it’s not healthy to go through life carrying around your pain. However, it is healthy to talk about that pain and eventually bury those negative feelings. There are many types of treatments for emotional trauma. You can choose one that’s best for your needs.

Cognitive Behavioral Therapy

Cognitive-behavioral therapy (CBT) is a great option for people who constantly deal with negative thoughts and engage in behaviors that reflect those thoughts. CBT helps patients cope with negative feelings and thoughts by using more rational thinking. It challenges and changes unhelpful cognitive distortions and behaviors, improves emotional regulation and helps patients develop personal coping strategies that target solving certain problems.

For example, a common CBT intervention might include learning how to manage stress and anxiety. Your therapist might show you relaxation techniques such as deep-breathing or coping self-talk, such as “I’ve done this before. Take deep breaths”.

Eye Movement Desensitization Reprocessing

A more involved treatment for trauma kent county RI might entail eye movement desensitization processing (EMDR). This process involves having a patient visualize or act out a personal experience that troubles them. This can be helpful in desensitizing the patient from the scary and troubling feelings they experience by thinking of a traumatic event. After they visualize the event, they identify a positive belief about themselves, which helps them focus on more positive things and not put so much energy into negative things.

Seeking help for your emotional trauma is of the utmost importance. Your mental health is an integral aspect of your wellbeing.