Whether you’re struggling with credit cards, medical bills, or an unpaid mortgage, mounting debt can quickly spiral out of control, often triggering home foreclosure, car repossession, and creditor harassment. And once you’re overwhelmed with unpaid debt, it can be difficult—or even impossible—to get back on the path to financial freedom.
Bankruptcy remains one of the most affordable and quick ways to emerge from debt while putting a stop to debt collections and even maintaining property. Let's take a closer look at each element of bankruptcy:
To many people, the very idea of filing for bankruptcy is terrifying. In fact, the only reason many of our clients find us is only because the fear of mounting debt and harassing creditors becomes even greater. While the prospect of facing bankruptcy can be scary at first, much of the fear is based on myths rather than reality. Here, we’ll debunk the most common of these untruths:
In October 2005, the laws which govern Chapter 13 bankruptcy changed. One of the more significant ways the law changed dealt with the eligibility requirements for filing for Chapter 7 and Chapter 13 bankruptcy.