GET A FRESH START THROUGH CHAPTER 7 BANKRUPTCY
Are you struggling with debts and looking for a way out? Chapter 7 is the most common, quickest and simplest form of debt relief available under the Bankruptcy Code. Despite what you may have heard, almost everyone qualifies for either Chapter 7 bankruptcy or some other type of debt relief. A Chapter 7 Bankruptcy gives you the financial Fresh Start you deserve!
Debts that can be Eliminated:
Most Lawsuits & Garnishments
Credit card debts
Loans (including “payday” loans)
Driver’s license suspensions and reinstatement fees
Mortgages and Mortgage loan deficiencies
Judgments and Liens
BANKRUPTCY MYTHS AND FACTS
Many people are not aware that Bankruptcy is a right that is afforded to every American through the United States Constitution. There would be no large corporations without the ability to protect individual shareholders in bankruptcy proceedings. In fact, Donald Trump, Abraham Lincoln and Walt Disney have all filed for protection under the Bankruptcy Code!
So if you are considering bankruptcy, it is essential that you are armed with information that can help you make the best decision possible concerning your financial future.
Common Bankruptcy Myths
Myth: A Bankruptcy filing will ruin my credit for good.
Fact: After filing bankruptcy, you will wipe out most if not all of your debts, and thus you will most likely be a better candidate to obtain credit from future lenders and creditors because they know you will be able to afford the payments on your new debts!
Myth: Bankruptcy law changed so I’m not eligible.
Fact: Almost all of the provisions that were available through bankruptcy before 2005 survive in today’s Bankruptcy Code.
Myth: You can’t file bankruptcy if you have a job.
Fact: Bankruptcy relief is available to the employed AND unemployed. In fact if you are employed then in many cases a bankruptcy can stop wage garnishments immediately!
Myth: You’ll never be able to purchase a car if you file for bankruptcy.
Fact: Many clients are able to finance and purchase vehicles IMMEDIATELY after filing. Many dealerships are now looking for people who filed bankruptcy because they know they can afford to pay them!
Myth: I’ll lose all my property in bankruptcy.
Fact: Almost all of your possessions are protected in a bankruptcy, including your home, your car, and your household goods. Many bankruptcy cases are “no asset” cases in which the Debtor keeps everything!
Myth: Credit Cards can’t be discharged in bankruptcy.
Fact: Almost all unsecured debts such as credit cards, personal loans and medical bills are dischargeable in bankruptcy.
Myth: I won’t get credit for 8-10 years.
Fact: People who file Bankruptcy often see a dramatic increase in their credit score as they no longer have any debt! It is worse to have lawsuits and other debts in collections sitting on your report because creditors know you still have to pay those debts before you can pay a new creditor!
Famous Bankruptcy Filers
What do President Donald Trump, Mark Twain, and Walt Disney all have in common? They have all availed themselves of Bankruptcy Law to protect them from overzealous creditors when they faced financial hardship due to medical issues, unemployment and bad economies. Bankruptcy is as old as the Constiution and is here to protect us. The Founding Fathers knew. Here are some more famous filers:
Zsa Zsa Gabor
Ulysses S. Grant
Milton Snavely Hershey
Jerry Lee Lewis
Henry John Heinz
A Fresh Start Through Chapter 13
A Chapter 13 bankruptcy can get you on a payment plan to pay off your debts at a reduced amount!
Some of the benefits of filing a Chapter 13 bankruptcy include the ability to reduce your car payments, extinguish mortgage arrears, lower your tax debts, student loan relief, and help pay off your mortgage!
Amourgis and Associates’ experienced bankruptcy attorneys will discuss your options with the skill and compassion you deserve.
If you are drowning in debt and need a solution to your situation, contact Amourgis and Associates for your fresh start! We can get you started today!
“Amourgis & Associates was friendly and helpful. They answered all of my questions.”
~ Lakesha Wright