Generally, if you do not have enough money to pay your other debts after you pay the bills for your necessary expenses each month, you may file for bankruptcy.
Most people who file for bankruptcy are either unemployed, have large medical expenses, have seriously over extended credit, or encounter large unexpected expenses.
In order to qualify for bankruptcy protection, there are several primary prerequisites:
The filing of either a Chapter 7 or Chapter 13 bankruptcy can be the route taken by you to deal with your financial difficulties. The following are reasons why you should consider filing bankruptcy: then instead of bullet points we will do numbers indented.
All the foregoing are possible reasons to file bankruptcy. The bankruptcy lawyers at the Law Offices of Schlissel DeCorpo can help you reach an educated decision as to what your options are to deal with your financial difficulties. We will explain the differences between Chapter 7 and Chapter 13 bankruptcies to you at your initial free consultation. We also advise you whether bankruptcy is right for you.
After you have filed for bankruptcy, your creditors may no longer contact you. The court will notify all of the creditors listed in your bankruptcy filing that you have filed for bankruptcy. Once they receive notice from the court, usually a couple of weeks after filing, they must stop all collection efforts and you should then be free from collection calls or any other type of collection efforts. If, despite notice of your bankruptcy proceeding, your creditors continue to contact you, they may be liable for court sanctions or your attorney’s fees.
If you are drowning in debt and you feel that you are unable to pay your way out on your own, we can help you make a new start by filing for bankruptcy. Read this article to help you decide which type of bankruptcy is appropriate for your situation.
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