Millions of people struggle to pay their bills and keep their heads financially above water. But with the plethora of expenses faced by most people and families these days, the challenges of this effort become overwhelming. Even if one does not use credit cards to pay for everything, the ordinary monthly obligations of rent or mortgage, school tuition, car payments, monthly bills for utilities, food, past loan payments, mount up. It takes only one or two unexpected extra expenses or the loss of a job to make meeting these obligations impossible. Many debt-straddled individuals and families end up using credit cards for payments out of desperation when the money starts running out. Eventually, the debt load becomes impossible to bear even with refinancing or consolidation. That’s when the last option is bankruptcy.
Declaring bankruptcy does not entail total ruin of one’s life. In fact, it is the opportunity to reorganize one’s financial life, liquidate a substantial percentage of the debt load, and to be able to start out with a clean slate. Bankruptcy can be an escape from an impossible situation, although the restrictions it imposes on credit will make life a little difficult until the bankruptcy is finally discharged according to law. And not all debts can be eliminated by bankruptcy, such as outstanding student loans as a result of bankruptcy reform passed by Congress more than ten years ago. For these reasons, persons contemplating bankruptcy need the services of experienced Attorneys in Casa Grande AZ to help them navigate the legal and financial pitfalls involved in bankruptcy reorganization.
There are two forms of bankruptcy available. Chapter 7 bankruptcy involves the immediate liquidation of assets and liabilities to eliminate outstanding debt. Chapter 13, often the option for businesses, allows the debtor to set a schedule for reorganization and repayment of debt. Both have advantages and disadvantages in approach and possible consequences where credit is concerned. Both options allow the debtor to bring one’s situation back under control. But it takes skilled Attorneys in Casa Grande AZ to bring the debtor into safe financial and legal haven.
Asheton B Call is an experienced bankruptcy attorney who has provided expert legal services in all aspects of Chapter 7 and Chapter 13 cases for clients in Casa Grande, Chandler and Glendale. Click Here to discover how Mr. Call can help you.