Filing for bankruptcy isn’t something that most people want to do during their adult life. When you are in debt so deep that you can’t find a way to pay at all, you might need to consider bankruptcy. The type of case you file determines what you will have to do.

If you have an income that allows, you might file a Chapter 13, which requires you to make repayments to the court. Those payments are divided up by the bankruptcy trustee and sent to your creditors. Some people prefer this type of bankruptcy since they are still paying their debts. Some people might not qualify if their income isn’t enough to cover these payments and the regular life expenses they have.

We understand that you have a lot of things that you need to know before you make a decision about filing. Taking the time to understand exactly what is going to happen and learning about how the filing will impact your life might make your decision a bit easier. Still, make sure that you aren’t taking too long. There isn’t any sense in you feeling the financial stress for longer than what is absolutely necessary.

If you are ready to file and reclaim your finances for the new year, we can help you get started. You don’t have to wait to do this. We can help you get moving as soon as you decide that this is the best decision for your finances, so you can start to enjoy the peace that comes with knowing you’ve done what you need to do.