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Is Bankruptcy Right for Me?

If your debt has become so overwhelming to the point where it seems impossible to pay off, bankruptcy could be a possible option. Bankruptcy is the most powerful tool in the law!!!! Remember, Bankruptcy is NOT meant to punish you but let you breathe and give you a fresh start!!!! It wipes out debt and awards people financial freedom! Too good to be true? Find out how bankruptcy may be able to give you the future you want and deserve!!!!!!

Some things that make bankruptcy a good option for you:

  • My current situation doesnt allow me to pay down my debt? For most people their financial situation is bad and getting worse! For most people, there are very few “non-bankruptcy” options to resolve debt. For instance, you may have tried to negotiate with your creditors or sold off assets to get money. You may have even tried debt negotiation, debt settlement, divorce, multiple jobs and other harsh measures to help you repay your debts and make improvements to your financial outlook.
  • Are you eligible for bankruptcy? The two main types of bankruptcy are Chapter 7 and Chapter 13. Chapter 7 wipes out your debt but has limitations on the amount of income you can make and the value of assets your can keep. However, most people who are considering a bankruptcy case easily qualify for whichever bankruptcy case is most appropriate for them. Again, an experienced bankruptcy attorney will help you with that analysis.
  • Are you being harassed, sued or facing a garnishment from your creditors? If you are being harassed or sued by creditors, keep in mind that these creditors can eventually take a money judgment against you. Additionally, a default judgment against you means they can start collecting your debt through wage garnishment of your income and placing liens against your property. Bankruptcy can wipe out/discharge debt—essentially dismissing the claims and debts against you—or delay the lawsuit through an automatic stay since it is considered unsecured debt.
  • House with Equity? Bankruptcy law has specific protections for houses, homes, residences, and places you live. Remember, Bankruptcy is NOT meant to punish you but give you a fresh start!!!!
  • Is your home being foreclosed? Is your vehicle getting repossessed? House and car debt is not affected through bankruptcy. Most people keep their cars and houses and continue their normal payments. However, if you have fallen behind on your house or car payments, a Chapter 13 bankruptcy can delay or stop foreclosure and repossession to give you an opportunity to catch up on payments.

If you think you are qualified for bankruptcy, discuss your situation with an experienced bankruptcy lawyer. With more than two decades of legal experience, our legal team at the Law Offices of Mark L. Miller can evaluate your financial situation and determine whether or not bankruptcy is the best option.

For more information about bankruptcy, contact us and schedule an appointment today.