There are many reasons to file for Bankruptcy.  Once a debtor files for bankruptcy, creditors must cease there activities to pursue the debts, debts are discharged or restructured.

Be careful when deciding to apply for bankruptcy.  Although it discharges or restructures debts and stops creditors from constantly pursuing you, it has a damaging impact on your credit, which affects your ability to rent or buy a home, buy a car, hold a credit card or obtain other necessities for life.  From a financial planning perspective, Bankrtupcy should be considered a last resort.

Chapter 7 Bankruptcy.  A Chapter 7 Bankruptcy discharges your debts.  Not everyone can qualify for a Chapter 7 Bankruptcy.  Some things that can disqualify a debtor from a Chapter 7 Bankruptcy are the value of the debtor’s assets, the amount of income the debtor has.

Chapter 13 Bankruptcy.  If you do not qualify for a Chapter 7 Bankruptcy, you may still qualify for a Chapter 13 Bankruptcy, which can at least restructure your debt.

If you feel like you are facing a bankruptcy, you are not alone.  Contact our law office today and we can guide you through the bankruptcy process.

Our rates are competitive and our services cannot be beat.  Chapter 7 filings start at $750 plus hourly fees.  Chapter 13 filings start at just $1,200 plus hourly fees.