Fresh Start

The goal of federal bankruptcy is to provide an honest debtor that has simply gotten overwhelmed with debt a fresh start. Once you file the petition for bankruptcy, the case is commenced. In addition to filing the petition for bankruptcy, you must also file a statement of your assets and liabilities and schedules listing your creditors. Specific exemptions available under state law determine what property you can keep.  The goal for a chapter 7 bankruptcy is for the consumer to get a fresh start.

Michael Scott Declare Bankruptcy Live on Office Episode!

Explore bankruptcy alternatives before filing.  Determine how long it will take to pay off your credit cards if you do nothing. Then, explore bankruptcy alternative solutions including debt counseling services or out-of-court debt settlement with your creditors. With lending standards being so strict, you probably wouldn’t qualify for a debt consolidation loan, which is why we don’t suggest it.

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