Do you need to consider filing for bankruptcy?

Have you ever wondered if filing for bankruptcy might be a solution to your seemingly endless financial woes?

Bankruptcy can and does happen to really good people who find themselves in a bad situation. Don’t feel guilty or alone if you think you might fall into this category. In fact, since the Great Recession the stigma around filing bankruptcy is far less than it was before the financial meltdown. Don’t let this “scary” word keep you from what may be a very doable solution.

Chapter 7 is a type of bankruptcy protection that offers individuals complete forgiveness of many types of debts, including credit cards, medical bills and collections debts. Some types of debts are not forgiven in Chapter 7, including taxes, tickets, student loans and child support.

Chapter 7 usually allows individuals to keep their car and their home, while breaking free of oppressive debt payments. We like to call Chapter 7 bankruptcy a “fresh start” for people struggling with unaffordable debts.

Is filing for bankruptcy right for you?

Talking with an experienced lawyer can help evaluate your unique circumstances to determine the right solution for you.

Who might need to explore bankruptcy as a possible option? Those who have recently dealt with a:

– Health crisis,

– Divorce,

– Job loss, or

-Disability leading to lack of income.

In determining if filing a Chapter 7 is right for you, an attorney will first need to assess what kind of debt you are carrying, such as credit cards or medical bills. Your attorney will also want to know if the debt is personal in nature or related to a business venture.

Fixing your financial house

While the concept of bankruptcy may sound scary, in actuality it is a tool the law gives us to fix financial problems, and that should be reassuring. Think of your attorney as the master carpenter who can use that tool to fix your financial house.

If you are interested in learning more about how bankruptcy might help you, we would be honored provide a free 15-minute phone consultation to discuss your options. Call us today at (360) 685-0145.