• Filing bankruptcy eliminates debt, which eliminates stress! Most of our clients are relieved once they file bankruptcy. Bankruptcy is a solution to a problem, not an additional problem. The absence of financial stress will give you and your family a clean slate.
  • You will generally be able to retain your house or your car when you file Chapter 7 or Chapter 13 bankruptcy as long as your payments are current. Chapter 13 can also be used to bring these payments current.
  • Your income does matter. Anyone can file bankruptcy, but your income may disqualify you from a certain type. If your income is above a certain level, you may be disqualified from filing Chapter 7 liquidation bankruptcy. Under Chapter 13, your income will affect how your debt obligations are restructured.
  • Once a bankruptcy is filed, creditors are NOT permitted to contact you for ANY reason. Section 362 of the United States Bankruptcy Code is very specific as to creditor harassment in bankruptcy. All calls, mail, lawsuits and general harassment must STOP when a bankruptcy case is filed. Creditors who violate this rule can face SERIOUS sanctions.
  • Bankruptcy will immediately STOP a lawsuit, foreclosure, or garnishment. The Automatic Stay under Section 362 of the Bankruptcy Code is a very powerful provision. It directs all creditors of a debtor to cease collection activities.
  • Are you concerned that you will never get credit again? Actually, filing bankruptcy is the first step towards rebuilding your credit and improving your credit score.
  • It is true that a bankruptcy filing is a public record but typically, the only people who will know you filed for bankruptcy are the ones you personally tell.
  • An individual spouse is permitted to file bankruptcy without the need for their spouse to also file. Not only can the filing spouse eliminate individual debt, but the non-filing spouse’s credit should not be affected.
  • The bankruptcy laws provide specific “exemptions” or “protections” for most basic possessions. In most cases when you file a bankruptcy you can keep your home, vehicles, household goods, and pension.
  • Retirement funds are “exempt” or protected in bankruptcy. A debtor can retain the retirement funds so long as the funds remain within the retirement account.
  • There are other options. Before filing bankruptcy, you can negotiate with creditors in attempt to modify your debt obligations or payment terms.
  • You are not a bad person! Bankruptcy is a solution to help good hard working people get through hard times. Bankruptcy is NOT a reflection of your character, but rather an option available under the law for people and families to obtain debt relief.

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