Start the New Year Debt Free!

Did the holidays leave your stressed out after spending too much? Are you worried about the bills that will start to pile up this month? If you are feeling overwhelmed by your debts, there is no better time than right now, the beginning of the new year, to get a fresh financial start! Bankruptcy may be your financial solution.

It’s been a tough few years and if you’ve gotten behind on your mortgage or racked up the credit card charges, it may be time to learn about bankruptcy and what it can do for you.

Here's a general overview of bankruptcy options:
 

Chapter 13

Chapter 13 is a bankruptcy repayment plan for people with regular income that allows you to pay back all or most of your debts within 3 to 5 years. Most importantly, Chapter 13 may allow you to save you home from foreclosure, stop repossessions, lawsuits, judgements, garnishments and other forms of enforced involuntary collection. Credit card debt may be completely eliminated!
 

Chapter 7

Chapter 7 is a straight bankruptcy (no repayment plan) which is designed to help people eliminate debt they cannot pay. It eliminates all creditor harassment, lawsuits, wage garnishments, and best of all, no more debts! This allows you to control your financial future, have peace of mind and get a fresh start.

 
If you’re considering what bankruptcy will do to your credit score, check out this article, Declaring Bankruptcy Can Improve Your Credit Score, written by Aleksandra Todorova, senior writer at www.SmartMoney.com