To many people the scariest four letter word of all is DEBT. The fact of the matter is anyone, despite how responsible they may be, is just one unfortunate event away from being in debt.
Whether it be a failed business venture, loss of employment, illness or a change in one’s personal life such as a divorce the risk of falling behind on your financial obligation is always there. Having so much debt that it feels like your drowning in it can be overwhelming and stressful.
What do you do when your financial situation seems unmanageable? That answer is easy, you call Victor Waite. Victor will personally discuss your financial situation with you and help you decide whether or not bankruptcy is the right option and if so what type of bankruptcy is best suited for you. Stop drowning in debt, call Victor today and take charge of your finances.
Benefits of Bankruptcy
What can bankruptcy do for you? Filing for bankruptcy stays all collection attempts, this means your creditors can not move forward in attempt to collect from you without obtaining permission from the bankruptcy courts. Depending on your individual situation you may be able to keep all of your personal possessions, your money, your vehicle and your home. Put an end to the harassing phone calls by calling Victor today and find out how bankruptcy may help you.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is known as liquidation bankruptcy. Chapter 7 bankruptcy allows one to eliminate all of their unsecured debts after surrendering their non-exempt assets. Unsecured debts are debts which are not tied to any property such as medical bills, personal loans and credit card debt. Exempt assets or things you own which our state law makers have decided you have the right to keep. Chapter 7 bankruptcy cases are the quickest of all the bankruptcy cases usually lasting just months.
If you have questions about what you will be able to keep in a chapter 7 filing call Victor today and get the answers you need.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a reorganization of one’s debt. When one files a chapter 13 case they are requesting the court approve a proposed payment plan for which they pay back a portion of their debt. Plans under chapter 13 last 3 or 5 years during which time one makes monthly payments to the court which in turn pays the creditors. At the end of the 3 or 5 year plan the remaining balance of the unsecured debt is discharged.
Deciding to take charge of your finances is a big step. Let Victor help you take the first step by calling his office today.