Personal bankruptcy is a good tool that you can use if you find that you are in debt that you won't be able to repay. There are many benefits to this, but some people worry about how it will impact their creditors. The fact is that creditors might lose money when you file for bankruptcy, but it may be a lot less than what they would spend to try to collect money from you when you know that you aren't going to be able to repay it.
We realize that this is a difficult decision for you. In some cases, there might not be any other option that you have. It is just a matter of actually sitting down to get the case filed. We are here to help you with this so that you are prepared for what is to come. We want you to know what the process is like and how it is going to impact you.
There are some questions that come up in these cases. Some of these include how long the case will take and what will happen when it is done. The answers can vary slightly, so it is best if we take a look at your case and give you answers based on it. This can give you the information that you need so that you are able to make a decision based on facts.
One thing to think about when you file is what type of bankruptcy you are going to seek. The two most common personal bankruptcy options are Chapter 7 and Chapter 13, so one of these might be the option for you. We can talk you through both, so you know how each works.