“Bankruptcy” is a word that can intimidate virtually anyone. It’s frightening, confusing and overwhelming… But if you are facing significant financial struggles and have exhausted other routes to resolving debt, it maybe your best option. There are different types of bankruptcy, and each has different terms and conditions. What do you need to know?
Also, if you are the creditor and your debtor has filed, or threatened to file bankruptcy then we can help you.
Do you have a New Year’s resolution for your family? Maybe it’s spending more time together, eating family dinner more often, adopting a healthier diet, or going to a new park or hiking trail every month. What about financial resolutions? If you are in debt, just making ends meet is difficult enough. But it is possible to improve your financial situation and build a stronger, more secure future for you and your family. And when you take it one step at a time, it is manageable.
If you find yourself asking, “Do I have too much debt?” chances are that the answer is yes. Even though the majority of Americans are carrying too much debt, it doesn’t make the situation any rosier. It can still cause you tremendous stress - and debt can easily become a self-perpetuating cycle. You miss payments, which raises interest rates, so you have to get another credit card to pay for expenses, which increases your monthly payments, so you have to choose which bills to pay… and on and on. What are the signs that you have too much debt - and what can you do about it?
What is bankruptcy? For many of us, it is a frightening word, full of meaning, full of anxiety, full of stress. Understanding what the process is - and what it means for you - can help alleviate the fear and uncertainty. Bankruptcy is a federal process that helps individuals, spouses, or businesses, in essence, press “restart” on their finances. It helps them find relief for some or all of their debts - though it is not without consequences.