Bankruptcy: Is it Right for Me?
If you're in debt, learn how filing bankruptcy may help reduce (or even eliminate) your bills.
Free case evaluation by a sponsoring bankruptcy attorney. Ask a lawyer if filing for bankruptcy could help you:
Our Bankruptcy Basics section can help you understand how to file for bankruptcy and which code you may want to file under:
Everyone's debt situation is unique. A bankruptcy lawyer can assess your individual case and help you determine if bankruptcy is the right option for you.
Bankruptcy Fundamentals: What You Should Know
The U.S. Bankruptcy Code offers consumers like you two forms of bankruptcy protection: Chapter 7 and Chapter 13 bankruptcy.
Generally speaking, Chapter 7 bankruptcy is used to help people discharge (eliminate) unsecured debts like credit cards and medical bills while Chapter 13 bankruptcy is typically filed to help people facing foreclosure or vehicle repossession keep these items by catching up on these past-due secured debts in the form of a repayment plan.
While the differences between Chapter 7 and Chapter 13 may seem clear cut, there are many other things you need to know about the bankruptcy process before you come to a decision on what’s right for you. Getting in touch with a local bankruptcy lawyer is a great way to learn more about the bankruptcy basics and decide how you can take control of your situation.
Throughout Bankruptcy.Me, we’ve given you information on topics important to filing bankruptcy. With that said, it is typically a good idea to speak with a bankruptcy lawyer who can examine your situation in more detail as it may apply to bankruptcy and provide you with even more information that is relevant to you.
The above synopsis of bankruptcy laws is by no means all inclusive and is not intended to provide legal advice. These laws may have changed since our last update and there may be additional laws that apply in your situation. For the latest information on these bankruptcy laws, please contact a bankruptcy lawyer in your area.