Accruing debt in a tough economy can make it increasingly difficult to keep your financial head above the proverbial water. After refashioning your budget and trying to earn more money, it may seem like you have nowhere to turn. Providing for yourself and your family is essential and many individuals will do so at any cost, even at the expense of their credit scores.
Chapter 7 bankruptcy is beneficial for individuals who are seeking a fresh start. By filing, you are giving yourself a break from creditor calls and allowing yourself the opportunity to re-establish your place as a financially strong individual. An experienced attorney can help you understand how to best pursue your goals.
Filing For Chapter 7 Bankruptcy
Chapter 7 bankruptcy will release you from your obligations to pay all unsecured debt within a few months. Unsecured debt includes credit cards, medical bills and certain types of loans for which you have not established collateral. It does not include your home or your car.
Due to their level of income, some individuals may not qualify for Chapter 7 bankruptcy. In these cases, Chapter 13 may be available. Additionally, Chapter 13 is an option for individuals of any income level who wish to pay back their debt under a repayment plan while protecting their assets and preventing foreclosure.
At Wells, Hoffman, Holloway & Medvesky, LLP, we are committed to giving all clients the personalized attention they deserve as they file for bankruptcy. We will listen carefully to your concerns and set realistic expectations for your case. We understand how stressful and overwhelming this may seem, and we will give you the clear, concise information you need to make educated decisions about your situation.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.