If creditors are calling you and your loved ones at all hours, threatening to repossess your property and filing legal injunctions against you, it may be time to consider filing for bankruptcy in order to get financial relief.
Chapter 7 and 13 bankruptcy options exist for individuals, which allow you to wipe your financial slate clean and to begin rebuilding a positive credit standing.
Financial mistakes should not relegate you to fiscal despair for the rest of your life and bankruptcy can give you the second chance you need for a bright future.
When you file and are approved for chapter 7 or 13 bankruptcy, your creditors must halt their harassing collection tactics immediately.
This will remove a great deal of stress from your daily life, allowing you to focus your energies on securing gainful employment, education or whatever else you need to carve out a successful niche for yourself in the world.
Creditors by law cannot harass you once you have been approved for bankruptcy and any organization that attempts to contact you will be accountable to the legal authorities of your state.
If you have large land holdings or expensive assets, chapter 13 bankruptcy can protect your items from repossession.
Technically, a chapter 13 bankruptcy is a reorganization of funds.
Basically, successfully filing for chapter 13 allows you to keep your assets, while repaying your creditors over a predetermined period.
In general, when you file for chapter 13 you do not wind up paying the full original amount of monies owed.
In essence, this filing will help you to gain the space you need to reorganize your finances and get yourself back into a healthy financial state.
This type of bankruptcy is generally awarded to individuals that have a steady income, as this enables the repayment of monies owned over time.
Many collection agencies threaten debtors with legal action and some even file actual suits against individuals that owe large sums of money.
When you successfully file for bankruptcy, your creditors have no more power to file suits against you.
If you file for chapter 7 bankruptcy, all of your valuable assets will be liquidated and those funds will be distributed between your various creditors.
Therefore, if you have very few assets, you stand to lose very little by filing for this type of bankruptcy.
Once your application is approved, creditors have no more legal foothold against you.
Chapter 7 and 13 bankruptcy options exist for individuals, which allow you to wipe your financial slate clean and to begin rebuilding a positive credit standing.
Financial mistakes should not relegate you to fiscal despair for the rest of your life and bankruptcy can give you the second chance you need for a bright future.
When you file and are approved for chapter 7 or 13 bankruptcy, your creditors must halt their harassing collection tactics immediately.
This will remove a great deal of stress from your daily life, allowing you to focus your energies on securing gainful employment, education or whatever else you need to carve out a successful niche for yourself in the world.
Creditors by law cannot harass you once you have been approved for bankruptcy and any organization that attempts to contact you will be accountable to the legal authorities of your state.
If you have large land holdings or expensive assets, chapter 13 bankruptcy can protect your items from repossession.
Technically, a chapter 13 bankruptcy is a reorganization of funds.
Basically, successfully filing for chapter 13 allows you to keep your assets, while repaying your creditors over a predetermined period.
In general, when you file for chapter 13 you do not wind up paying the full original amount of monies owed.
In essence, this filing will help you to gain the space you need to reorganize your finances and get yourself back into a healthy financial state.
This type of bankruptcy is generally awarded to individuals that have a steady income, as this enables the repayment of monies owned over time.
Many collection agencies threaten debtors with legal action and some even file actual suits against individuals that owe large sums of money.
When you successfully file for bankruptcy, your creditors have no more power to file suits against you.
If you file for chapter 7 bankruptcy, all of your valuable assets will be liquidated and those funds will be distributed between your various creditors.
Therefore, if you have very few assets, you stand to lose very little by filing for this type of bankruptcy.
Once your application is approved, creditors have no more legal foothold against you.