Bankruptcy Solutions That Work for You

Are you tired of struggling with debts that you cannot afford to pay? Do creditors harass you about overdue bills? Are you facing a foreclosure or repossession? If so, you should discuss bankruptcy solutions that may be available to you with an experienced bankruptcy attorney.

Call now for a free consultation with a bankruptcy lawyer. Filing a Chapter 7 or Chapter 13 bankruptcy case may be the best way for you to get out of debt while protecting your property and income.

Learn more about bankruptcy solutions during your no-cost, no-obligation case review.

How Can Filing for Bankruptcy Relief Help Me?

Filing a Chapter 7 or Chapter 13 bankruptcy case can give you the relief you need from the financial burden of debts you cannot pay. Struggling to make ends meet can take a significant toll on your health and your relationships. You can get a fresh start and begin to rebuild your finances by filing for bankruptcy relief.

Some of the financial problems that a Chapter 7 or Chapter 13 case may resolve include:

  • Foreclosures

Filing a bankruptcy case stops a foreclosure action. In a Chapter 13 case, you can catch up the past due mortgage payments in a repayment plan to keep your home. A Chapter 7 case can give you a little more time to find another place to live before the foreclosure is complete. Bankruptcy can also eliminate any deficiency judgment against you that the lender may try to obtain.

  • Wage Garnishments

Chapter 13 and Chapter 7 bankruptcy filings also stop wage garnishments. Wage garnishments can take a significant portion of your disposable income. Through bankruptcy, you might be able to discharge the debt or pay it over a much longer period to avoid your wage garnishment.

  • Repossessions

Losing your vehicle can be devastating.  Filing a Chapter 13 bankruptcy case can stop a repossession from happening and allow you to keep your car. In some cases, your Chapter 13 bankruptcy plan may modify the terms of your car loan to make it more affordable.

  • Creditor Harassment

Filing for bankruptcy relief stops creditor harassment. Creditors are prohibited from taking any further action to collect a debt, including filing debt collection lawsuits. The bankruptcy discharge prevents creditors from taking actions after your bankruptcy case is closed to collect discharged debts.

  • Income Tax Debts

Most income tax debt is not eligible for a discharge. However, you can file a Chapter 13 bankruptcy case to repay your income tax debt over 60 months. The bankruptcy case avoids wage garnishments and bank account levies. In addition, a bankruptcy attorney carefully analyzes your income tax debt to determine if any portion of the debt may be discharged as a general unsecured debt.

  • Failing Business

If you are self-employed, you probably co-signed most of the business debt for your company. A loss of business may require you to close the company. Creditors will look to you for payment of the business debts. Filing for bankruptcy relief can eliminate your liability for paying the business debts.

  • Alimony and Child Support

Alimony and child support payments cannot be discharged in bankruptcy. However, you can catch up past due child support and alimony payments by filing a Chapter 13 bankruptcy case. You can pay the past due support payments through your Chapter 13 plan to avoid a contempt charge by the family court. You must remain current on all future support payments while in bankruptcy.

Call to Learn More About Bankruptcy

Many other financial situations can be resolved with bankruptcy solutions. Call for a free consultation with a bankruptcy lawyer to explore the various bankruptcy solutions that could help you get out of debt.

Advantages and Benefits of Filing Bankruptcy

In some cases, an individual may consider alternatives to bankruptcy, such as an equity line to consolidate debts or hiring a debt consolidation company. Some individuals may use retirement funds or savings to pay debts.

Before you decide about resolving your debt problem, you need all the facts. Filing for bankruptcy relief has advantages and benefits that other debt-relief options cannot offer.

Some of the benefits and advantages of filing bankruptcy include:

  • Most retirement accounts are protected from your creditors and the trustee.
  • Your creditors are not given a choice whether or not to participate in the bankruptcy case. Creditors can choose not to participate in a consolidation plan.
  • By filing a bankruptcy case, you can eliminate unsecured debts instead of placing your home at risk by borrowing against the equity.
  • Creditors cannot pursue any actions to collect debts once your bankruptcy case is filed. At any time, a creditor can file a debt collection lawsuit, even if that creditor has accepted an agreement with the debt consolidation company.
  • Debt consolidation companies charge significant fees for their services.
  • You will probably pay more by working on your own to resolve your debt problem than you will if you file for bankruptcy relief.

Contact an Experienced Bankruptcy Attorney for Help

If you are considering filing a Chapter 7 or Chapter 13 bankruptcy case, you need an experienced bankruptcy attorney to guide you through the process. Deciding to file a Chapter 7 or Chapter 13 bankruptcy case is a very serious matter. Your decision can impact your financial decisions for many years.

A bankruptcy attorney explores all options for resolving debt with you. An attorney can assist you in finding an affordable solution to your debt problems that works for you. Before making your decision, make sure you have all the information you need to make an informed decision about filing for bankruptcy relief.

Bankruptcy offers solutions that other forms of debt relief cannot offer. Therefore, schedule a free consultation with a bankruptcy attorney to learn more about bankruptcy solutions that ma work for you.

It can be very difficult to know whether filing for bankruptcy relief is right for you if you are not familiar with the bankruptcy process. Let a bankruptcy attorney explain the bankruptcy process to you step-by-step so that you can have a better understanding of how bankruptcy can work for you.