Bankruptcy Information Guide - BankruptcyOnly

Should I file for bankruptcy?

It’s important to know the options available for you, the debtor, in addition to bankruptcy filing. A bankruptcy lawyer can clearly show you your options and if bankruptcy is the right answer for you. Debtors often think “Should I file bankruptcy?” or “When should I file for bankruptcy?” –these questions can be answered and you can have the peace of mind knowing you are making the right decision.

Everyone’s financial circumstances are unique. Learning if your situation is one that will be helped by bankruptcy is convenient, fast and confidential. Tell us about yourself through our online application form so a bankruptcy attorney can call you and provide a free initial consultation.

Bankruptcy may be the Answer for you....

Ask yourself a few simple questions:

• Are you likely to lose your home, car or any valuable assets because you're in debt and can't earn enough money to pay your creditors on time?
• Do you have large credit card debts that you can't repay?
• Are you spending sleepless nights or worrying how you'll repay your creditors?
• Are your creditors harassing you by calling you constantly?

If you answer “Yes” to these questions, consider filing bankruptcy as an option. You may find that if you file for bankruptcy, you can address all of these issues. BankruptcyOnly will help you in finding a solution.

Filing for bankruptcy?

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Filing for bankruptcy may allow you to:

Filing for bankruptcy is a legal process and can be complicated so it’s important to work out your bankruptcy carefully. BankruptcyOnly works with a team of bankruptcy lawyers who can guide you in how to file for bankruptcy. Your first consultation is free! Bankruptcy Attorneys can help:

• Stop creditor harassment
• Eliminate debts
• Protect some of your most important assets
• Get a NEW start in life
• Reduce your daily stresses and financial worries

Chapter 7 Bankruptcy

If you have large amounts of unsecured debt (debts with no lien), like credit cards, doctor bills, pay day loans and your payments are current on your secured debts, like your home or card (those assets you own which have a lien), then bankruptcy may be the right answer for you. You will need to validate that your income is not too high. This is called the Chapter 7 means test. If you qualify, Chapter 7 allows you to discharge your unsecured debts while affirming your secured debts that you want to keep. Learn More on chapter 7 bankruptcy counseling services

Chapter 13 Bankruptcy

Often referred to as the “wage earner's” bankruptcy, chapter 13 is for those who have the income to pay their debts given enough time. In chapter 13 one is trying to protect their home, car and other assets. It allows you to work out a plan with your creditors over a 60 month period. All repossession and collection actions are stopped while the plan is in place.
Apply now to get free bankruptcy advice on chapter 13

Your Protections

The US Bankruptcy Codes offer protections not found anywhere else. Foreclosure and repossession may be stopped by using bankruptcy. An automatic stay should go into effect when you file, which contains provisions to stop creditors from harassing you and taking further action. It may allow you the time needed to decide the best way to work out your situation.