Now that the holiday season is over, the credit card bills are rolling in. These bills might not be pretty. You might soon realize that you can't make the minimum payments and keep up with your normal living expenses. If you are in this position, right now is the time to think about how you will handle the situation. You can sit back and do nothing. You can find a second job and struggle to make the payments. You can seek relief from the debt that you suddenly find yourself in.
We know that you probably want to take care of your obligations. This is one of the reasons why some people don't want to file for bankruptcy. They think that this is an easy way out and that they are going to be frowned upon. This isn't the case. In some cases, bankruptcy is the most responsible thing that you can do.
There are different types of bankruptcy to think about. You should learn about each one so that you can decide if you are going to file for one. Chapter 7 and Chapter 13 bankruptcies are the most common forms for consumers. There is a huge difference between these.
Chapter 7 bankruptcy is one that has income and asset limits in place. This is also known as liquidation bankruptcy. Chapter 13 bankruptcy is considered a wage earner's bankruptcy because you would repay the debts on a set schedule.
We know that you might need some questions answered so that you can make a decision about how to handle your debts. We are here to help you get those answers before the situation spirals out of control.