Bankruptcy can accomplish many things that can get you on a more stable financial ground. If you are considering filing, you need to make sure that you are looking at all the ways it might impact your life. You might be surprised at how much relief you are able to enjoy by filing.
One of the attractive points of filing for bankruptcy is that you will enjoy the benefits of an automatic stay. This means that your creditors can't contact you with demands for money. You can check the mail and answer the phone without having to worry about what you might encounter.
We know that you can't base your decision to file only on this. Instead, you need to think about what it will mean for your finances. The decision to file doesn't mean that you are shirking your responsibilities. Instead, it is letting your creditors know that you realize you are in over your head and are willing to sacrifice to correct your errors.
When you file for bankruptcy, you have to decide what chapter is appropriate for your case. A Chapter 7 won't require you to make payments, but you have to qualify for this and you might have to part with some assets. A Chapter 13 bankruptcy requires you to make payments to the bankruptcy trustee, but you will likely be able to hang on to more assets.
We understand that this is a big decision for you. We can help you review the options and get your case moving forward on your chosen path.