Federal bankruptcy law was enacted to allow debtors who are unable to meet their financial obligations to obtain a fresh financial start. Bankruptcy law accomplishes this goal by providing debtors with a essay writers mechanism through which they may eliminate, reduce and/or extend most debt, while simultaneously protecting themselves during the bankruptcy process from pursuit and harassment by their creditors.
With only certain limited exceptions, any individual (alone or together as a married couple) or business may file for bankruptcy protection.
If you are unable to keep up with your monthly payments, are feeling overwhelmed, stressed and overall powerless about your current financial situation, it is time to consider bankruptcy as an option. Bankruptcy provides many options for those struggling with their expenses. Contact us to discuss your situation.
A bankruptcy filing is often used for many reasons by both individuals and business to:
Although not available for everyone, if you are eligible to file for Chapter 7 bankruptcy it could be the solution for you to get out of debt. Also called “fresh start” bankruptcy, this is what many can expect from Chapter 7 bankruptcy:
If you are looking for a way to keep your home, keep your car and get the debt relief you deserve, Chapter 13 bankruptcy may be right for you.Chapter 13 bankruptcy is essentially a reorganization or repayment plan that lasts from 36 to 60 months. Instead of struggling with your debt, Chapter 13 bankruptcy allows you to work with your creditors to make payments you essay writers can afford. After three to five years of this plan, your remaining debt will be discharged.
If you do not meet the income test for Chapter 7 bankruptcy, you will have to file for Chapter 13. If you do have disposable income, it is important that you make payments you can afford. However, by entering a repayment plan, you will be able to keep your home, keep your car and retain other important assets.