Filing bankruptcy, either Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, can get rid of credit card, medical or other unsecured debts. It all depends upon your income, expenses and assets. That is why we have Free Consultations with only attorneys. A typical free consultation will last between thirty minutes and an hour. Call us toll free at 1-877-9NEW-LIFE and find out if bankruptcy is right for you.
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
- Stop the Harassing Phone Calls
- Stop Wage Garnishment for Lawsuits, Taxes or Student Loans
- Lower Your Car Payment
For most people that choose to file bankruptcy credit cards are the main source of frustration. You make the payments each month, or cannot continue to make the payments each month, and the balance owed just does not get smaller. This is even if you are no longer using the credit card. The amount in interest charged each month just keeps adding up and adding up. Late fees also start to pile up making the debt impossible to payoff in a reasonable amount of time. If you have missed payments it is only a matter of time before creditor phone calls start to harass you for payment. Filing for bankruptcy will give you the fresh start you deserve.
Medical debts are normally unsecured debts just like a credit card. There is no collateral tied to the debt that can be repossessed if you do not make the payments. Collateral is a car securing a loan or a house securing a mortgage. If you do not make your car payment then the car or house can be repossessed or foreclosed on to pay the debt owed. These are secured debts.
We will verify your income with a couple of recent pay statements you bring to the free consultation. Our client information form has many questions about the things you own. Everything from the money in your bank accounts to vehicles, boats and the stuff your home. California has generous bankruptcy exemptions that in most cases will protect the stuff you have so you do not have to give any of it up. If you are lucky enough to have assets that exceed what can be protected it is not the end of the world.
Just because you have unexempt or unprotectable assets does not mean you cannot file for bankruptcy protection. It just means that you will have an obligation to your creditors depending upon the amount that cannot be protected. If you have an asset bankruptcy case it will be a little more complicated than a no asset case and there will be more work required.