Bankruptcy: It’s just one of those words we don’t like to talk about.

But the truth is that bankruptcy has been a real debt-relief solution for millions of people who’ve struggled with debt, unfair interest rates and mortgage terms, job loss, divorce, unexpected medical costs and/or wage reduction.

If you’re deep in debt and are having trouble paying your bills or making ends meet, bankruptcy may be able to help you get out of debt once and for all.

Ask yourself these questions:

• Are you heavily in debt, with little prospect of getting out of that debt in the near future?
• Are your creditors threatening foreclosure, repossession or other legal action?
• Have you experienced a dramatic drop in income?
• Are you frequently late paying bills?
• Do you only pay the minimum on your credit cards?
• Are you paying more money than you make on just your monthly living expenses?
• Have you recently become partially or totally disabled?
• Are you going through a divorce resulting in a decrease of income but an increase in expenses?

If you’ve answered “yes” to any of these questions, filing bankruptcy may be an option for you. Read on for information about the two types of personal bankruptcy.

Filing Chapter 7 Bankruptcy

This type of bankruptcy is often a good option for people who:

• have lots of unsecured debt like credit card debt, medical bills and outstanding payday loans
• have little/no money after paying monthly living expenses & bills
• rent their home or have little equity in their home

Chapter 7 eliminates unsecured debt and stops creditor harassment–and the process usually only takes a few months.

Learn more about filing Chapter 7 bankruptcy…

Filing Chapter 13 Bankruptcy

This type of bankruptcy is often a good option for people who:

• have a steady income and can pay for basic necessities but are having trouble making scheduled payments on debt
• have significant equity in their home/property
• are facing foreclosure

Chapter 13 bankruptcy stops foreclosure proceedings and gives you 3-5 years to catch up on past-due bills. Under Chapter 13, you are put on an agreed-upon payment plan where you make just one payment each month.

Learn more about filing Chapter 13 bankruptcy…

First Step: Talk to a Bankruptcy Lawyer

A bankruptcy lawyer is a good resource who can help you determine whether filing bankruptcy is right for your specific situation.

Talk to a bankruptcy attorney today.

What Do You Think About Filing Bankruptcy?

If you’ve filed bankruptcy in the past or are thinking about filing bankruptcy, let’s hear from you.

What was your experience? What are you thinking about? What do you think about filing bankruptcy? –Leave a comment so we can share our thoughts.

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