You May Have the Option of Attaining Lasting Debt Relief Through Chapter 7 Bankruptcy
If you’re struggling with debt, you know how fast it sucks the enjoyment out of life. Every decision that you make is overshadowed by the knowledge that you don’t really have the money to pay for the things that you need to get through the day. Building a future for yourself can seem unthinkable if you add up what you owe and realize that it would take you decades just to break even. Don’t give up on yourself. Depending on the details of your situation, Attaining lasting debt relief through Chapter 7 Bankruptcy may be the right option for you.
Chapter 7 bankruptcy is designed to help people who are in a financial situation that is so serious that there is no realistic prospect that they’ll be able to pay what they owe. This often happens to families who have done nothing wrong. A family business fails or the primary wage earner gets laid off, and the situation can go into a downward spiral of borrowing from one creditor to try to keep up with the payments on another. If this sounds like what has happened to you, you should explore the option of Attaining lasting debt relief through Chapter 7 Bankruptcy and whether you meet the legal requirements to file.
Your best option is to set up an appointment for a consultation with a law firm that handles bankruptcy filings. That way, they can walk you through your financial situation and how it compares to requirements under the current law. They’ll also help you to keep from making costly mistakes. For example, you should never take money from a retirement account to try to pay your bills if you’re thinking about filing for bankruptcy. Retirement accounts are protected in bankruptcy proceedings, so any money that is in one should stay there.
Chris Carouthers & Associates, LLC. is a firm that helps people to make smarter decisions about their financial futures. They’ll work with you to make sure that you understand all of the benefits and drawbacks to each of your options. That way, you can be informed as you decide how to start building a better future for yourself and for your family.