Consumer Bankruptcy can be a powerful remedy for consumers
Consumer Bankruptcy can be a powerful remedy for consumers facing mortgage foreclosure or suffering under the weight of unmanageable debt. Bankruptcy is the legal discharge of debt and it protects the consumer debtor from further efforts to collect the debt. The primary purpose of consumer bankruptcy is to allow individuals and families to recover from their economic setbacks and have an economic fresh start. Additionally, bankruptcy functions to ensure that all of a consumer’s creditors are treated equally and fairly. The most commonly used forms of consumer bankruptcy today are Chapter 7 and Chapter 13. Both require that the consumer debtor disclose all assets and liabilities to the court.
Bankruptcy Laws Exist to Provide An Economic Fresh Start
The decision to file bankruptcy can be difficult. It is important that you have the most up to date and accurate information when making the decision whether to seek a fresh start through the bankruptcy process. I offer free 30-minute video-conference consultations to individuals and families who are in financial distress. During the consultation we will evaluate your financial situation, discuss the various types of bankruptcy, and what bankruptcy options are available to you. Contact me today.