The holidays are a tough time for many people, not only because of the emotional toll they can take but also because of the financial impact. Some people decide that they want to start January off with a fresh financial picture. If you are drowning in debt, you might be considering bankruptcy.
We know that you have probably been responsible with your money. The trouble that many people realize is that medical bills and other unexpected life events can trigger effects that make it hard to crawl out of the massive debt they have. Filing for bankruptcy might help you get your finances under control.
When you file for bankruptcy, you have to have an accurate account of your finances. This includes your debts and assets. The court uses this to help come up with a plan for you if you are filing a Chapter 13 and to determine your eligibility for a Chapter 7 if you are filing that chapter. Don’t worry – we can help you decide which one to file.
There are many things to think about when you file for bankruptcy. Be sure that you’ve considered how the filing is going to impact you in the upcoming years. You won’t have access to much credit, if any at all, to rebuild your credit score. The good news with this is that you will be able to focus on living off your income, which could help increase your financial reliability in the future.
We realize that you might still have some questions. We are here to help you evaluate the options you have to get your finances back on track. Once you decide which direction to go, we will work on your behalf.