STOP!!!! Do not lose that tax return
Tax time is here, are you ready? Are you waiting patiently like you do each year to get your refund so you can use it to reduce your outstanding debt? Is this your annual use of your tax refund? You can get out of this cycle, you can start a better financial plan for your family.
If you have credit card or secured debt that is overwhelming, and you can never get ahead of it, this may be the perfect time (if you qualify otherwise) to discuss a bankruptcy. You are permitted to use your tax refund to pay for the cost of a bankruptcy, which will mean that you can finally use that refund to satisfy all of the debt, not just to pay most of your debt, and still leave that little bit that creeps back up to an uncontrollable amount.
There are two different chapters for individuals, Chapter 7 and Chapter 13. In a nutshell, Chapter 7 is when you discharge all your debt and have a clean slate; a Chapter 13 is a reorganization payment plan that reduces your debt significantly and allows you to keep all of your assets (that you may have to relinquish in a Chapter 7).
Do not guess if this is right or wrong for you, speak to an attorney at Schwam-Wilcox & Associates, the consultation for a personal bankruptcy is complimentary and you can get all of the knowledge you need to make a reasonable decision for you and your family about your financial situation. You can reach us by calling 407-245-7700, visiting our website at www.cbswlw.com or by e-mailing us at firstname.lastname@example.org; When you’re going through your worst, we are at our Best!