Get Your Questions Answered – Call For Your Free 15 Min Phone Consultation
(801) 784 6250
Are you struggling to pay your bills? Are your debts becoming a stress that you deal with more and more with no end in sight? Although it has carried quite a stigma in the past, filing bankruptcy may be able to help you with a financial fresh start. Unforeseen circumstances like a job loss or lengthy injury or illness can lead down a difficult and steep financial path. Fortunately, there are ways to get back on your feet and head back up the trail. Pens and coins stacked up on a document
The first question is which chapter of bankruptcy is right for your specific situation, Chapter 7 or Chapter 13? Here are three things to consider when answering that question:
Deciding to file bankruptcy should start with figuring out which debts are causing you the most stress. Chapter 7 bankruptcy is best for individuals whose main debt is a result of credit cards, medical bills, payday loans, and/or other unsecured debts. In the alternative, Chapter 13 bankruptcy can help with secured debts like a home mortgage in foreclosure or a vehicle loan. Otherwise, if your debts do not fall in either of those categories, a bankruptcy will not likely help you: back taxes, student loans, etc.
Income has a lot to do with which type of bankruptcy is right for you. Start by asking yourself how much money you have leftover at the end of the month once you have paid necessary bills like rent, utilities, groceries, etc. If the figure you end up with is a negative number or very close to $0 then you will most likely qualify for a Chapter 7 bankruptcy. If the figure you end up with is $500 or more then the bankruptcy court may conclude that you have enough to pay back some of your debts in a Chapter 13 bankruptcy repayment plan.
A good indicator that you may need to consider the option of filing bankruptcy is when creditors begin calling you non-stop, sending you threatening letters, or take you to court in order garnishment your wages. If this is happening to you, filing bankruptcy can immediately stop the debt collection process.
Filing a Chapter 7 or Chapter 13 bankruptcy provides protection from creditors, even stopping garnishments already being collected from you.
If you have been dealing with debt that you just don’t think you can pay back, consider filing a bankruptcy. Don’t let another day go by without asking a bankruptcy attorney for help. Let bankruptcy help you start over by becoming debt-free!
“Sentinel Law Group has some great attorneys. I’ve had clients that I work with in mortgages that have worked with these guys and they do a great job. I found them to be very responsive and helpful with the things that we needed and their clients were well taken care of at this law office. I have recommended them to my clients who are considering divorce.”
“We were so pleased with the service and expertise Mr. Ahlstrom gave us with our complicated foster-adoption. He was very knowledgeable and prompt. We also know Charles as a friend, neighbor and community member. We readily recommend him as an excellent attorney. Thanks for everything you did for us Charles! We really appreciate you.”
“I am currently a client of Charles and am very happy with him. I know that if I didn't have a good lawyer on my side with my divorce I was going to be in trouble and felt very comfortable with Charles the very first time I met with him. If you want a trustworthy and caring lawyer on your side Charles is the lawyer for you.”