Are you in a bad spot right now? Maybe you're facing a lot of debt because of illness, injury, or just hard times. If you want out of debt, you have many options to get on the right track. Just like everyone else, you want the very best for yourself and your family, but the bottom line is that you have to survive.
If you feel like your debt obligations are overwhelming, you may be thinking that the best option is to file for bankruptcy. While you should not take this route unless you are sure that you do not have any other options, there are ways of telling what you can do, and many people to help you through your difficult financial problems.
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One of your options is to seek out financial counseling. This might sound like just another thing for you to have to worry about paying for, but it is not. You should not have to pay for a bankruptcy evaluation. There are many places that offer free bankruptcy evaluation and consultation.
Do not pay for services like these, otherwise you will not be sure if you are getting honest help. Friends and family might have advice for you during this time in your life, and this is fine. However you should always ask someone who is experienced in bankruptcy evaluation and consultation before you decide if bankruptcy is right for you.
There are two different kinds of bankruptcy that you will learn about when you start evaluating what to do. Chapter 7 is the most common type and it is also known as liquidation bankruptcy. In this case your non-exempt property is sold so your debts can be paid off. You could lose your house, your car, or everything this way. Of course, needless to say that this should be your last option, especially if you have children.
If you are one of the lucky ones and you have a job, and a regular income, a good option is Chapter 13 bankruptcy. All of your property will remain yours, and you will be able to pay your debts with minimum or no interest. You will be required to have a plan as to how and when these transactions will occur. In this option, but not in Chapter 7, you might have the option of a full discharge if you make all of the required payments.
Naturally, the rules and regulations concerning debt relief and bankruptcy will vary from place to place. Be sure to check out the bankruptcy laws in your area, and look for a free consultation so you don't have to go at it alone. Remember, your best hope is to consult with a bankruptcy lawyer who can help you make the right choice for your individual situation.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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