First, you’ll want to determine if bankruptcy is right for you. Calculate your total amount of debt and categorize each type of debt into unsecured, secured, or non-dischargeable.
Unsecured debts: Debts incurred based on a repayment agreement that did not require you to list any collateral. These are the most common types of debts and include medical bills, credit cards, payday loans, and utility bills.
Secured debts: include loans secured by real estate, automobiles, or other large items. You must keep paying for any secured debts if you wish to keep the property that is secured after the bankruptcy.
Non-dischargeable debts: Debts that cannot be eliminated in a bankruptcy proceeding, including parking tickets, IRS debt, student loans, back child support, and most other governmental debts.
Chapter 7 Bankruptcy is designed to eliminate all unsecured debts, with the exception of some government debts including taxes and child support. To qualify for a Chapter 7 bankruptcy the court will examine your income, expenses, and value of any assets that you own. The means test and the state exemptions can be tricky, and I’d recommend relying on a bankruptcy attorney for this part of the analysis. The majority of people who file Chapter 7 bankruptcy don’t lose any property and are able to keep their house and car, providing they are current on the payments
You should know that if you call my office, you will speak directly to me and you can expect a thorough explanation of bankruptcy law, as well as a plan tailored to your specific situation.
All of my clients have my personal cell phone number. Whether you call me, text me, or shoot me an email, I will respond to your request, usually within 24 hours.
I have flexible hours to accommodate your needs and consultations are completely free. My fees are very reasonable, and I offer payment plans.
So give me a call, pick my brain, and let see if I can help you solve your financial problems.