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Why File for Bankruptcy?

Filing a petition for bankruptcy immediately stops all foreclosure action, lawsuits, garnishments, tax collection, and any other creditor action, such as phone calls and other forms of harassment.

Through filing for a Chapter 7 or Chapter 13 bankruptcy, you will also eliminate most of your debts, including those from credit cards, medical bills, repossessions, foreclosures, and some taxes. Choosing to file under one of these chapters may mean saving your home or business.

You may fear the stigma of bankruptcy, or you may not want to be seen as “admitting failure.” In fact, creditors encourage these negative myths about bankruptcy to keep people from filing, and the truth is that bankruptcy relief forms an original part of the US Constitution and is meant to allow debtors to find relief through the courts.

Your eligibility is determined by your ability to repay your debts (the means test) and is based on information contained in a petition filed with the US Court. Our attorneys will be able to tell whether your bankruptcy petition will be approved based on your financial information, and we will guide you throughout the filing process.

The decision to file for bankruptcy is one of the most important financial decisions you will ever make, and our attorneys would be happy to speak with you, discussing your options and figuring out the best steps to secure your future. To talk to one of our experienced attorneys or schedule a free consultation, please call us at 1-800-425-4357.

Which type of bankruptcy might suit your circumstances?

Most debtors choose to file for either Chapter 7 bankruptcy, which eliminates most debts, or Chapter 13 bankruptcy, which allows a debtor to repay creditors over three to five years. Also consider that some debts cannot be discharged through bankruptcy. These often include student loans, tax debts, and child support payments.

What will happen to your property?

You may be able to keep your home or car after a bankruptcy. If you remain current on your mortgage, you may be able to make up any arrears through a Chapter 13 bankruptcy, and our attorneys will help you determine whether your property is exempt from Chapter 7 liquidation. The same applies to your car and other significant assets. Fortunately, retirement accounts are largely safe from action in Chapter 7 and 13 bankruptcies.

Do you have any alternatives to bankruptcy?

Our firm is experienced in many debt solutions, and bankruptcy is not always the best option. We can help you create a debt consolidation plan, negotiate with creditors, and dispute your debts. To find out how we might be able to help you, please contact us.