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By now, I am sure you are just about at the end of your rope, thinking there is no way to get out of debt or save your home. Your mortgage company has returned your payments and refused to negotiate for even partial payment. The credit card companies are calling you night and day demanding payment and even threatening to sell the property in and out of your home. Like the majority of us, you wonder, “why won’t my creditors just try to work with me and accept any amount that I can give them?”

Unfortunately, creditors today are not sympathetic to our explanations of a job loss, divorce, hospitalization or other financial hardship. Fortunately, the Federal Government is sympathetic, and affords individuals such as yourself protection under the bankruptcy laws.

FREQUENTLY ASKED QUESTIONS

What is bankruptcy?
Bankruptcy is a legal proceeding that allows individuals who are undergoing financial difficulties to eliminate their debts and clean up their credit.

What can bankruptcy do for me?
Clean your financial slate and start anew! Stop creditor harassment! Prevent a foreclosure! Prevent repossession or take back repossessed property! Prevent a judgment or lien from being placed on your home!

Will anyone find out that I have filed for bankruptcy? Will it be in the newspaper?
I’m sure you have heard many scary things about bankruptcy. Let me reassure you that the social stigma of filing for bankruptcy no longer exists. Countless numbers of people from all income levels have filed. Your bankruptcy filing will not be listed in the newspaper. Although your bankruptcy is considered a public record, most people will not find out about your bankruptcy unless you tell them.

Will the credit card companies continue to call and harass me after I file for bankruptcy?
Under the Federal Bankruptcy Code, individuals such as yourself can be given a second chance, a chance to save your property and get out of debt. When a bankruptcy petition is filed all collection activity must immediately stop. This means no more harassing phone calls and letters. By giving yourself this “fresh start,” your home and assets will remain safe from the creditors reach. Furthermore, once you “retain” my office to file your bankruptcy, you can refer all creditors to me, which can stop the harassment much sooner.

My spouse and I have separate credit cards, can I file for bankruptcy on my own?
Yes. An important point to consider is that as a married couple, you have the option of filing for bankruptcy either jointly, or individually. Depending on how your assets and debt are arranged, it may be a wise decision for only one party to file, thus allowing your spouse to maintain his or her clean credit standing for future purchases. However, if many of your credit cards are joint accounts, if only one spouse files, the other spouse will be responsible for the debt.

How long will the bankruptcy remain on my credit report?
Although the bankruptcy can appear on your credit report for up to ten (10) years after you file, it is not the end of world! Many individuals who file receive credit card offers before they even receive their discharge. Credit lending agencies know you won't be able to file another bankruptcy for at least 8 years, so you are seen as a good credit risk. Most people who were able to get out of severe debt by themselves are the exception, not the rule!

I read that most people won’t be able to file bankruptcy anymore now that the law changed, is that true?
The media recently scared people into believing that they would no longer be able to wipe away their debts in bankruptcy. But the truth is, as long as your monthly income isn’t considered “excessively high” you will still be able to file and eliminate your unsecured debt. In fact, 90% of all individuals can still file bankruptcy. Click here to see if you qualify.