|Do you feel worried, trapped, scared, or embarrassed with nowhere to turn because of your financial situation ? Filing for Bankruptcy is a solution. The United States Congress created the bankruptcy system to help people in time of need. That time of need often arises when someone has lost their job, has a serious medical problem, or is going through a divorce. All too often the factors leading to financial difficulties are beyond the control of those suffering the dilemma.
The big questions most people have. What is Bankruptcy? Can I file Bankruptcy? What will Bankruptcy protection do for me? Can someone tell me about Bankruptcy? What is a Bankruptcy discharge? What is the automatic stay? Can Bankruptcy really help me? What kind of Bankruptcy should I file? This website assists you by giving you information you are looking for. If you are asking yourself these kinds of questions, then you are probably experiencing some of the following situations.
Your credit card payments are behind and the credit card companies will not stop calling and asking for "money now" !
Your mortgage payments are behind and you are being threatened with foreclosure or are being foreclosed on now.
Your vehicle has been repossessed or is about to be repossessed.
Your wages are or are about to be attached or garnished.
Tax debts continue to grow at a rapid pace with penalties and interest that keep getting added to the bill making the balance higher and higher.
You are being sued, and you never had lawsuits in court before.
You really regret that second mortgage or home equity loan that is now difficult if not impossible to pay.
Your driver's license has been suspended or revoked because money you owe.
The harassment, the phone calls can be unrelenting-to the point that you lose sleep or become ill.
How Can Bankruptcy really Help Me and Protect Me?
Claiming Bankruptcy stops the constant harassing phone calls, alleviate the stress, anxiety, and emotional trauma you feel, can eliminate your debts, stop lawsuits in their tracks, stop wage attachments and wage garnishments, stop foreclosure, eliminate or reduce mortgages, eliminate or reduce liens, and improve your credit too The moment you file bankruptcy, the "automatic stay" springs into existence. The automatic stay is a federal court order that arises by operation of law. The automatic stay is the preliminary protection that you receive by filing bankruptcy and lasts during the entire course of your bankruptcy, (as long as you play by the rules). Your wages, vehicle, home, tax refund, bank account cannot be taken by the people you owe money. The people you owe money to our call creditors. Your creditors are not allowed to bill you or collect money from you for debts you owe when you file a petition in the Bankruptcy Court. Bankruptcy is a chance to obtain a Fresh Start ! A start with a Clean Slate.
You can start over. When your bankruptcy is completed, you receive a "Discharge "Order". The discharge order is another federal court order which is issued at the end of your case. The discharge order is what permanently eliminates your debts. The automatic stay is the temporary order that protection during your bankruptcy and the discharge order protection you when your bankruptcy has and. So even though your bankruptcy is over you still have protection.
Others have faced your plight before - Donald Trump, Burt Reynolds, Willie Nelson and approximately 1,500,000 other people every year. You would be surprised at the people that have filed for bankruptcy. We understand your fear, anxiety, embarrassment, and stress, because everyone in your situation feels that way -you are not alone !!!.
But what is Bankruptcy?
The Bankruptcy Code is a Federal statute which establishes a separate Federal Court system to administer and adjudicate Bankruptcy cases. This Bankruptcy Law permits both individuals as well as businesses to eliminate their debts and or reorganize their debts in order to get a "fresh start" in life. Our Country has had a bankruptcy law in since the early 1800's. A law that President Lincoln had to use; Yes, Abraham Lincoln had to file Bankruptcy under this early statute. However, the Bankruptcy Statute is not as harsh as it was in Lincoln's day.
At the end of 1978 the United States Congress passed a new Bankruptcy law which allows most people to keep most if not all of their property and still eliminate their debts. When Debts are eliminated, they are said to be Discharged. You may have heard advertisements saying all bankruptcy applicants must be discharged. At the end of a Bankruptcy case you receive a Discharge Order which means your debts are eliminated, so you can start life over with a clean slate.
Debts which can be discharged (eliminated) are credit cards, store charges, utility bills, medical bills, personal loans, and even some federal and state income taxes. If your car was repossessed and sold then, any remaining balance can be eliminated. If your home was foreclosed on and sold at sheriff sale or tax sale, then any balance remaining that you owed can be eliminated. If you have lost your driver's license because of failure to pay a judgment or insurance surcharge, you can get your license back by filing bankruptcy. People contemplating bankruptcy always have questions about the effect a bankruptcy will have on their lives and property. The following pages attempt to answer some of those commonly asked questions.
What Bankruptcy Chapter Is Right for Me ? Chapter 7 ? or Chapter 13 ?
It is not always easy to determine which Chapter Bankruptcy you are eligible for. If you even have a choice (and you don't always a choice), then determining which Chapter of Bankruptcy to file can be complex. The links below, to other pages on this website, will give you some guidance as to which chapter(s) of bankruptcy you are qualified to file. You may have one or two or even three choices, and you may have no choices at all. There are special rules if your stockbroker commodities broker, insurance company, bank or railroad, but we will not deal with those entities on this website. This website is directed at individuals, consumers and small-business.
Can someone tell me more about Bankruptcy?
Yes, a Bankruptcy Lawyer. Can a Bankruptcy Lawyer really help me ? Yes ! A Bankruptcy Attorney is almost a necessity to advise you and guide you through the complicated and tedious process of claiming bankruptcy. The process of filing Bankruptcy is controlled by the Bankruptcy Rules . If you believe you may need to file for Bankruptcy and need additional information, then please read on - click on the links below. If you require additional information or need assistance in evaluating your financial situation or want to speak to an attorney, then you can call for an appointment at (610)-258-5859 so questions and concerns specific to your case can be answered.