You want to resolve all of your debt because you’re tired of feeling like you’re treading water. Nothing, to you, is worse than not being able to pay your bills on time. You just want to be in a better financial position.
If you are overwhelmed by debt, you may want to look into filing for bankruptcy. Depending on your income, you may be able to qualify for Chapter 7 or Chapter 13 bankruptcy so that you can have at least some of your debt discharged and move forward with a more secure financial outlook.
For now, look into Chapter 7 bankruptcy. This is a form of bankruptcy that allows all unsecured debts to be completely discharged once you meet the requirements of the court. It’s a good idea to discuss filing bankruptcy with an attorney because this process can be complex. However, if you take things step by step, you should be able to file, deliver documents on time and take your credit courses in a timely manner. Your attorney will help you stay on track, so your bankruptcy can end sooner, and you can get back to living your life.
Won’t you lose all you’ve worked for if you choose bankruptcy? What’s the point?
This is a common, and damaging, myth. You won’t lose everything you have in bankruptcy, because the goal isn’t to make your situation worse. Bankruptcies are set up in different ways, but Chapter 7 only asks that you liquidate assets that are not exempted by law.
Many people can go without liquidating any assets at all. Our website has more on what to expect if you decide to file.