Will Bankruptcy Work For You?

If you have visited this blog you probably have more debt than you can handle. Most likely, your debt mushroomed because of circumstances beyond your control - job loss, divorce, buiseness failure, illness, or accident. You may feel overwhelmed by your financial situation, and uncertain about what to do next. maybe a friend, a relative or even a lawyer suggested bankruptcy, describing it as the best thing in the world for you. Someone else may have said the opposite - that bankruptcy is a huge mistake and will ruin your life.
My blog will help you sort through your options and choose the best stratergy for dealing with your debts. It explains
1. how the new bankruptcy law works
2. How filing for bankruptcy under Chapter 7 or Chapter 13 (the two Bankruptcy consumers) will affect your debts, property, home, and credit
3. the procedures you'll have to follow (abd paperwork you'll have to complete) to file for bankruptcy, and
4. some alternative ways to handle your debt programs, outside of the bankruptcy system

Armed with this information, you'll be ready to decide whether filing for Chapter 7 or Chapter 13 Bankruptcy makes sense for you

As you consider the stratergies available to you, keep in mind that you're not alone. During each of the first five years if the new millenium, more than 1.5 million Americans filed for bankruptcy. So did thousands of companies. Although filings dropped dramatically just after the new law took effect, bankruptcy remains a necessay and pervasive part of our economic system.
And bankruptcy may be right for you. You may be able to stop creditor collection actions (such as foreclosures, wage garnishments, and bank account levies) and:
Wipe out all our debts in a Chapter 7 bankruptcy while hanging on to your home car and other necessary items
Use Chapter 13 bankruptcy to pay back a portion of your debts over three to five years