The reason we have bankruptcy is to give people in heavy debt a “fresh start” in life and free them from their past financial problems. The Supreme Court has said the purpose of the fresh start is to give people “a new opportunity in life, unhampered by the pressure and discouragement of pre-existing debt.”
The most common way people get their fresh start is through “Chapter 7” bankruptcy. Chapter 7 is the focus of my bankruptcy practice, and it fits well with my other two practice areas, which focus on debt defense and the Fair Debt Collection Practices Act.
Chapter 7 bankruptcy is popular because it only takes 3–4 months to move through the process, and at the end you will wipe out most, if not all, of the unsecured debt that you owe. It is also popular because once you start the process, debt collectors and creditors have to stop calling and writing letters, they can’t sue you or garnish your wages, and they can’t move forward with a lawsuit or continue garnishing your wages if they’ve already started. And it is popular because in most cases, you won’t lose any of your property.
It’s a good idea to consider Chapter 7 bankruptcy if you’ve had a major life event (like a job loss, divorce, or death of a loved one) that has made your income go down; if you have medical bills piling up; if you can only make the minimum monthly payment on your credit cards; if you’ve suffered a repossession; if you’re being sued on lots of old debt; or if your wages or bank account are being garnished. People in any of these situations can usually help themselves by working with a bankruptcy lawyer.
My practice is a debt relief agency under federal law, because I help people seek bankruptcy relief under the Bankruptcy Code.
Go ahead and give me a call. We can meet, you can tell me your goals, and I can walk you through the process and answer your questions.