You can be debt-free in 5-6 months with a Chapter 7 bankruptcy.
For many people who have been struggling with debt for a long time – often for years – it can come as a shock that complete relief from debt can come in such a short period of time. From the time bankruptcy is filed until the process is complete takes, in most cases, just four months.
- From the time you file, creditors will know they can no longer contact you. If they do, tell them to call your lawyer. No more creditor phone calls.
- Wage garnishments,foreclosures and repossessions are stopped when bankruptcy is filed.
- In many cases, you can keep your home. Bankruptcy is a federal law, but each state has a limit on how much equity is safe from bankruptcy. With many homes “under water,” there is no equity.
- When the bankruptcy is final, you can continue to pay on and keep your home and car in most cases.
- Without the burden of unsecured debt – medical bills, credit card bills and other debt – within four months you will have the opportunity for a fresh financial start.
The specifics of each case vary, and your priorities may be different from someone else’s. One person may want to keep a home, for example, while another determines that it isn’t worth keeping in the current economic climate. It’s best to discuss the details with an attorney experienced in bankruptcy law in Alabama, Tennessee and Mississippi.
If you think you cannot pass the bankruptcy means test, talk to an attorney who can explain your rights.
Call 1-877-ONE-DEBT and learn more about Chapter 7 bankruptcy.
At the Bond & Botes law offices, you will have a FREE initial consultation with a lawyer who knows the federal bankruptcy law and the related state law well. You can count on personal service with local attorneys at Bond & Botes.