The decision to declare bankruptcy can be very difficult, whether you are declaring bankruptcy for your personal or business finances. At Chuck Franklin Law, we have a dedicated attorney who works solely with bankruptcy law, and we will work with you to determine whether bankruptcy is the right choice for you.
Bankruptcy was designed to give people a fresh start. It can allow you to keep your home and your car. Declaring bankruptcy can also allow you to eliminate unsecured debts, such as credit card and medical bills.
One of the biggest myths about declaring bankruptcy is that you cannot rebuild your credit. Many people can qualify for credit again shortly after declaring bankruptcy. However, declaring bankruptcy doe not relieve you of domestic support order, tax debt or student loan obligations.
There are a number of indicators that can help you determine whether its time for you to file bankruptcy.
- You are having a tough time making your minimum monthly payments.
- You are using your credit cards to pay your bills
- You are juggling debt from credit card to credit card
- You cannot make you mortgage payments
- Creditors are harassing you at home or at work
In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protections Act. This Act reformed the bankruptcy laws and requires credit counseling prior to filing for bankruptcy. With the current bankruptcy laws and all the necessary paperwork that must be filed, you may not want to go through the process of declaring bankruptcy alone. Call Chuck Today!
Save Your Home!
You can still keep your home, even if you declare bankruptcy. One of the biggest myths about bankruptcy is that you will lose your home if you declare bankruptcy. Bankruptcy can allow you to escape from under the weight of your debt without losing your house.
Filing for Chapter 7 bankruptcy can allow you to get rid of your unsecured consumer debt and keep the secured debt you want to repay. This allows you to keep your secured debt, such as your hosue and car payment while eliminating the high credit card interest and fees!
We can help you make the difficult decisions!
Don’t get tricked into handing over the deed to your home in order to avoid bankruptcy. We can help you figure out whether a short sale or bankruptcy is the best option. We will work with you to help you make the best decision for your situation.
You can Rebuild Your Credit after a Bankruptcy
One of the biggest myths about bankruptcy is that you won’t be able to rebuild your credit after you declare bankruptcy. We will work with you to help you make the best decision for your situation.
There are a number of options that you can take advantage of to rebuild your credit:
- Make your payments on time
- Open a savings account and make monthly payments
- Get a secured credit card and make payments on time
