Thinking About Filing for Bankruptcy?
First, do not be embarrassed or blame yourself for thinking about filing for bankruptcy. If you have too much debt and it has become so unmanageable to make or keep up with payments, then a fresh start might be what you need. If starting new is what you have in mind, then you’re thinking about a Chapter 7 bankruptcy. This is where you’ve accumulated mostly consumer debt (e.g. credit cards, auto loans, personal loans, medical bills) and based on how much you make, you are unable to pay your mortgage or rent along with necessities such as phone and electric bills. You shouldn’t have to choose which to pay and keep digging yourself deeper. My bankruptcy practice is primarily debt relief for people like you who are seeking to wipe out debt and begin anew. A Chapter 7 bankruptcy is one of 6 types of bankruptcies. The other main type is a Chapter 13 where you undergo a repayment plan that is approved by the trustee assigned to your case. Here, you may make more than what is allowed under the “means test” so you have your debt restructured and paid over a 3-5 year period. After that period is over, your remaining debt is then discharged as well, just like the Chapter 7 bankruptcy. The process for either a Chapter 7 or 13 bankruptcy is daunting and can be stressful, but once you’ve gotten a discharge, you’ll feel great. Life isn’t a straight road and sometimes we go down a difficult path. Call our office and let’s talk. Consultations are gratis and I am happy to go over your situation and provide sound legal advice on your options.