Debt, with all of its trappings of pain and regret, has quickly become America's most controversial four-letter word. As debt strikes millions of hard-working consumers each year, more and more people looking for debt relief assistance are turning to personal bankruptcy.
While there are numerous methods to reduce or eliminate debt, bankruptcy has been the preferred method of debt reduction for millions of people, and it offers unique protections.
Of course, there's no reason to rush into bankruptcy headfirst. You can explore your options by consulting with a local attorney before making the bankruptcy decision. By filling out the quick form below, you can arrange a free consultation with a bankruptcy attorney today.
While bankruptcy will probably not make all your debts magically disappear, it may give you an opportunity to discharge many of your debts or a chance to catch up on your late payments.
There are two main types of personal bankruptcy, Chapter 7 and Chapter 13. While Chapter 7 bankruptcy is generally best suited for people with limited assets, Chapter 13 bankruptcy is typically a better fit for people with steady jobs who have fallen behind on their bills.
A bankruptcy lawyer can help explain the differences between the two forms of bankruptcy and how they may apply to your unique financial circumstances. Nevertheless, the two types have a few things in common. These include:
In sum, both Chapter 7 and Chapter 13 offer strong methods of debt relief assistance.
If you are looking for debt relief assistance, one option is to first contact a bankruptcy attorney. When you do, you may want to ask these questions when discussing your unique financial circumstances:
A local attorney familiar with your state's laws should be able to answer, or at least give reasonable advice on, these sorts of questions.
Bankruptcy is a serious matter, and shouldn't be taken lightly. However, it may provide the strongest source of debt relief for struggling consumers.
If you are looking for debt relief assistance and are unsure where to turn, connect a local bankruptcy attorney today. Use the free case review form below to arrange a free, no-obligation consultation with a lawyer in your area.