Honestly, bankruptcy may not be the best solution for every person who visits our website or calls our office. However, bankruptcy can solve many financial problems for individuals, couples or businesses. For example, bankruptcy can stop foreclosure on the eve of your home being sold at the courthouse steps, significantly reduce interest rates paid on car loans, eliminate credit card debt and medical bills, stop wage garnishments immediately, provide relief regarding income taxes, stop harassing collection agencies and the unnecessary accompanied stress, and more.
The most important piece of information you can learn is the sooner you meet with our bankruptcy attorney, the better prepared you will be to protect the assets you own, plus the sooner you may no longer have to spend hundreds or even thousands of dollars monthly on credit card payments or medical bills, even.
Types of Bankruptcy
Though there are several types of bankruptcy, Chapter 7 and Chapter 13 are the two generally filed by individuals, married persons, and small businesses. Chapter 7 is the bankruptcy commonly referred to as a complete bankruptcy or liquidation. Its laws are outlined in Chapter 7 of the United States Bankruptcy Code. Chapter 13 is commonly referred to as a restructuring or modification of debt, and its laws are outlined in Chapter 13 of the Code.
What You Should Do Next
Call our central phone number, 618.235.9800, to schedule your free initial consultation with J.D. Graham. Our secretary can explain all the fees associated with a bankruptcy, including attorney, court, and mandatory credit counseling fees. In fact, if you call other law firms, be certain to ask them to disclose all the costs required to file a bankruptcy.
Next, attend the initial consultation with an understanding of your debts, assets, income, and expenses. If you desire to gather and bring any documentation at that time, of course you may, but it is not necessary. At your consultation, Mr. Graham will tell you the advantages and disadvantages bankruptcy will provide you and the costs to file. He will also answer all your questions and plan the next steps you must take in order to file your bankruptcy in a timely manner.
Free Credit Report
It is highly recommended, but not mandatory, you obtain a credit report to aid in gathering your creditors when providing us with the necessary information to file your bankruptcy. The official website where you may obtain a free credit report from all three major credit reporting agencies (Equifax, Experian, and TransUnion) is www.annualcreditreport.com. This website provides consumers with the secure means to request and obtain a free credit report once every 12 months in accordance with the Fair and Accurate Credit Transactions Act (FACT Act). Please note, not all creditors report to a credit reporting agency. It is important you make sure to list all creditors you do not see on your report.