It is a new year, and most people are looking for a restart. The gyms are packed, healthy foods are being served at the dinner table, personal vows to be a better person for 2020; however, financial stress may still be overwhelming. It may be time to look at bankruptcy as an option. Do you need help getting on your feet for the new year? Do you struggle to pay your mortgage and want to save your home? Did you go through a dissolution and now need to organize your expenses with your new adjusted income? Bankruptcy may be the answer you are looking for to help you work out your financial situation.
There are two (2) types of bankruptcies that are commonly used for families/individuals: Chapter 7 and Chapter 13. Chapter 7 helps you get rid of all of your unsecured debt, and get the fresh start you are hoping to achieve (if you qualify); and Chapter 13 is the reorganization payment plan to help you save your car, house, rental property… whatever assets you may have that you want to keep but need a little assistance with a plan and time. Find out if bankruptcy is right for you, which type would help you the most, and the one you may qualify for based on your individual facts.
Schwam-Wilcox & Associates offers complimentary consultations for bankruptcy cases (there is a fee for corporate bankruptcy matters) so do not hesitate to come by and gain the information you need to take control of the financial piece of your individual puzzle.