bankruptcy court
Filing for bankruptcy is a stressful decision, especially because you are already stressed with debt. Let me help you. Filing for bankruptcy allows you to get rid of your burdensome debt and get a fresh start on your finances. There are two types of consumer bankruptcies: Chapter 7 and Chapter 13.

A Chapter 7 bankruptcy is known as "traditional bankruptcy." This is for people who are current on car payments and mortgage/rent payments, but are burdened with credit card and medical bills, wage garnishments, bank levys and lawsuits. While it's true that a bankrupcy stays on your record for seven years, the impact on your credit report does not last for that long. In fact, a year after receiving a Chapter 7 discharge (of debts), credit card companies may allow you to open accounts to build back your credit. Take it slowly, though, because you can only file a Chapter 7 every eight years.

A Chapter 13 bankruptcy is known as a "personal reorganization." This is for those people who are behind on car or mortgage payments, and want to keep their car or house. Additionally, a Chapter 13 works for those who are behind on taxes or child support. By law, a Chapter 13 must last between 36 and 60 months (3-5 years). At the end of your Chapter 13 case, you may receive a discharge on other debts you have, like credit card and medical bills. 

Give me a call, shoot me an email or fill out the Contact Form to get started on managing your debt.

DISCLAIMER: The Information contained here is for informational purposes only. This is not legal advice and may not be used as such. Trivedi Law FIrm, LLC is a debt-relief agency, and helps people file for Bankruptcy under Title 11 of the United States Code.