Filing for bankruptcy is a way to eliminate most or all of your debt. Bankruptcy is a bit scary for people that don’t really understand it but as those that have done it or understand it know, it really just gives you a you way to get back on track with a chance to start over. Bankruptcy is a go-to option for people that are financially overwhelmed for any number of reasons: those whose payments are on time that are just struggling each month, those that are just starting to fall behind, those that are way past due, those being sued, even for those with mortgage problems!

If you getting harassed at home or at work, we know that can be pretty embarrassing. When you hire SJ Packman to file your bankruptcy, will take over the collection calls for you to give you some stress relief while working on your debt relief. This way you can focus on your life instead of the phone ringing all the time. Being that SJ Packman is strictly a debt relief law firm and we only deal with debt related issues, most of our clients don’t have much money to pay the high bankruptcy fees that most other attorneys charge. We are dedicated to keeping our fees affordable and our bankruptcy lawyers can set up payment plans to pay the fees over time!

There are 2 types of consumer bankruptcy that most people will qualify for. Chapter 7 and 13. (With either type of bankruptcy, you may still be able to stop foreclosure and repossession). Generally, Chapter 7 Bankruptcy is filed when a debtor low or no income and has no asserts or little value in the assets they do have. Usually the debtor will keep be able to keep their home and cars but won’t have to pay anything!

Chapter 13 Bankruptcy is good for those with significant unsecured debts like credit cards, medical bills, and collection accounts and can even help with people that are behind on their mortgage payments or those with second mortgages whose home values have dropped. Although Chapter 13 requires and income, the debtor pays back a low portion of what they owe over 3 to 5 years. In the cases where higher paybacks are estimated, other options such as debt settlement are offered.

It is extremely important when thinking about filing for bankruptcy that you choose debt relief attorneys that can offer multiple options rather than just one so all of your choices are explained to you. If one of the bankruptcy alternatives can help you to avoid bankruptcy then you may want to look into those as well! Ultimately you want to consult a bankruptcy law firm like SJ Packman & Associates so you know every possible option will be explained to you and you know that you will be making the right choice, whatever that may be.