Could Filing for Bankruptcy Help You?
Free Bankruptcy Evaluation Form
In this economy, many hardworking Americans are accumulating debt at a fast rate. More of us are finding that bankruptcy can be a real answer to our debt problems.
Bankruptcy is designed to eliminate unmanageable debt, such as:
- credit cards
- medical bills
- payday loans
- mortgage debt
- utility bills and more
If you've been curious about whether filing a bankruptcy petition could help you, complete the below free bankruptcy evaluation.
Bankruptcy vs. Other Debt Relief Options
When you're knee-deep in debt, there are a few ways to dig out--but not all forms of debt relief are created equal.
Unlike debt consolidation or credit counseling, bankruptcy offers the protection of the automatic stay, which is a legal order that is designed to:
- STOP Collections
- STOP Foreclosure
- STOP Repossession
- STOP Wage Garnishments and Lawsuits
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| Foreclosure |
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| Repossession |
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| Lawsuits |
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| Wage Garnishment |
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| Accounts Referred to Collections |
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| Credit Card Debt |
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| Medical Bills |
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| Utility Bills |
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| Payday Loans |
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| Tax Debt |
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| Divorce Debt |
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| Student Loan Debt |
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When Does the
Relief Begin? |
In most cases, you STOP paying bills immediately after case is filed. Collection efforts (creditor calls, foreclosure and repossession) are court-ordered to STOP |
Typically have to make many monthly payments, including interest and late fees |
Typically have to make many monthly payments, including interest and late fees |
| Can it Impact Your Credit? |
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* Discharged in bankruptcy under unique circumstances.
Talk to a bankruptcy lawyer today about your options. |
Getting Real about Chapter 7 and 13 Bankruptcy
When considering filing for bankruptcy, there are two personal chapters to examine.
The first is Chapter 7 bankruptcy. Under this form of personal bankruptcy, you may be able to eliminate debt without having to pay anything back, which is unlike debt consolidation where you usually take out another loan to repay bills while collection efforts continue.
The second form of personal bankruptcy is Chapter 13 bankruptcy.
In this case, you typically don't have to pay late or interest fees while you repay your secured debts (mortgage payments/car loans/other debt tied to property) in smaller monthly payments over time.
In many cases, a portion or all of your unsecured debts (credit cards, medical bills and other bills not tied to property) may even be discharged if you make all your scheduled payments on time. This is generally not the case in debt consolidation where late fees and interests rate can rack up.
OK, So Which Bankruptcy Could Really Help Me?
In general, most people who file Chapter 7 have unsecured debt (med bills, cc cards, utility bills, etc.) they can't repay. After the Ch 7 filing is official, that debt is usually wiped out and people can essentially "start fresh". Often times, these are folks who have lost their jobs or have experienced a reduced income and can't realistically get set up on a repayment plan.
Most people who file bankruptcy under the 13th chapter have unsecured debt, but also debt tied to homes or property they want to keep. These filers typically have some consistent income coming in and need a year or two to get caught up with their bills.
Because every case is truly unique, it's a good idea to talk with a professional about your specific bills and situation.
We can connect you, for free, to a local bankruptcy lawyer who can help you determine which debt-relief option may be best for you.
Fill out the below free form and get started today.
Use the U.S. Bankruptcy Code to Your Advantage.
Bankruptcy laws were created so Americans who found themselves sinking in debt wouldn't be enslaved by debt their whole lives.
Laws exist so you have a real way to resolve debt.
It's really easy to get into debt. And, once you've got debt piling up, the crazy late fees and high interest rates rev up. Before you know it, you can't keep up with the bills and the creditors start calling.
The Bankruptcy Code may be able to help you get out from under all that debt.
Talk to an attorney today about bankruptcy laws in your state.
How Do You File for Bankruptcy?
- First, you should determine whether you are legally able to file. Most people are allowed to file Chapter 13, but if you want to file Chapter 7 bankruptcy, you must first pass the means test.
- Next, you then can start filing out bankruptcy forms and possibly go to court to meet the bankruptcy trustee -- or --- enter your ZIP code above to find a lawyer who can consult you, answer your questions about bankruptcy, and start the filing process for you.
Talk to a bankruptcy lawyer today and find out whether filing bankruptcy could help you.
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