Nobody wants to declare bankruptcy. Unfortunately life happens and sometimes that means losing jobs due to the recession, losing spouses due to divorce and losing assets due to either or both and bankruptcy becomes the only viable option to solve a very huge and never ending problem. If you are tired of ducking bill collectors, throwing your mail in the garbage unread and hoping your problems will just go away it may be time to talk to a bankruptcy lawyer.
Your debts won't go away even if the bill collectors temporarily do and the interest on your debts can grow beyond the original debt making it even harder to get a handle on things. If you have tried to negotiate with your bill collectors to no avail, and you don't foresee your circumstance changing in the near future to pay off your bills it may be time to consult a bankruptcy lawyer.
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A bankruptcy lawyer can help guide you through all of your options and ensure that this is the best one for you. They can answer your questions and walk you through the process so you won't have to go through it alone. Once you have decided this is the best course of action for you your attorney will help you find which type of bankrupt program works best for your needs.
If you want to try and pay off your bills somewhere down the road and have a payment plan chapter 13 may be the best solution for you. Of course your attorney will want to make sure that you will be able to make lowered payments or you will find yourself in the same predicament with no recourse left since you can only file for bankruptcy every seven years. Chapter 7 on the other hand allows you to essentially walk away from your debts once the bankruptcy court declares your assets are not enough to pay your bills.
But bankruptcy cannot wipe away all your debts. Some debts such as child support, alimony and student loans are debts you cannot walk away from but if you are able to wipe away your other bills it may be easier for you to make these payments.
Your attorney can help you understand what debts are declarable and what ones are not. They can also ensure that you list all of your debts so you can truly start with a clean slate once your bankruptcy is final. So in short if you are to the point where are ready to look further into bankruptcy make sure you do it with a lawyer to help guide you in the process.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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