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The main approach in the free consultation is I want to make sure that I give the person I am meeting with enough information that they can make an informed choice on how they want to resolve their debt situation

Both chapter 7 and chapter 13 bankruptcies discharge your debts. Under a chapter 13 however, you propose a payment plan to the court to pay a portion of your debt. There is no required percentage of the debt that you must pay, instead the payment plan is based on your budget.

When you file for chapter 7 bankruptcy, you must meet 2 income qualifications. First, you must pass the means test.

John from North Carolina shared a story about his uncle, a furniture-store owner, who filed for bankruptcy in order to regain financial stability. The Great Recession resulted in many people across the United States being laid off from their jobs or losing the businesses that they had dedicated their lives to running.

Bankruptcy can stop the judicial process, because bankruptcy is federal law, and federal law preempts state law. All collection lawsuits are governed by state law.

The credit card companies have put many millions of dollars not only into steering legislation in their favor, but also to shaping Americans’ attitudes towards going bankrupt. Many feel that being bankrupt is immoral because one is “stiffing” their creditors.

Is It Harder To Qualify For A Chapter 7 Bankruptcy Than The Other Chapters?

Your attorney will attend the meeting with you. If you retain a larger bankruptcy law firm, they might send an attorney that you have never met with before.

What Are The Different Ways To File For Bankruptcy?

According to the data, individuals who have cancer are 2.65 times more likely to to file for bankruptcy than those who aren’t faced with this terrible affliction.