Is Bankruptcy Right for Me?
Deciding whether to file for bankruptcy and what type of bankruptcy, will depend on your financial circumstances and goals. There are three types of bankruptcy we explore with each client during our initial consultation. Chapter 7 offers a way to discharge and eliminate debt but may require the surrender of some assets. Chapter 13 (for individuals) and Chapter 11 (for businesses) involve the reorganization and repayment of debt under the protection of the bankruptcy court.
When you file for bankruptcy, an automatic stay is placed on all collection efforts against you. This can put an immediate stop to:
Creditor contact and harassment
Foreclosure
Creditor lawsuits
Wage garnishment
Car repossession
Sheriff’s sales
Ruesch & Reeve PLLC can guide you through your bankruptcy options so that you know every advantage and disadvantage of bankruptcy when deciding if bankruptcy is right for you.
Read more about Chapter 7 Bankruptcy
