Are creditors hounding you for payment and you have nowhere to turn?

Can’t sleep at night because you are worried about drowning in debt?

Has your mortgage become unaffordable?

 Are you facing foreclosure and wondering what you can do to stop it?

Are you a victim of predatory lending practice and wondering what to do to save your home?

You are not alone. Over 2 million people have filed for bankruptcy since 2005 in order to seek relief from their bills or to protect their homes from foreclosure. Those numbers may be exceeded in 2008 for many reasons including access to easy credit, job loss, medical costs, the high cost of housing which many have suffered as a result of the predatory lending practices which have resulted due to poor lending practices over the past few years. Many home loans which were offered at low "teaser interest rates" are  resetting at record numbers and homeowners can no longer afford their mortgage payments.  As a result many people now find themselves in financial difficulties but are afraid that since on October 17, 2005 when the law changed relief may no longer be available. In fact, many people are not aware that there are solutions and strategies. Rest assured, relief is still available through bankruptcy and there are other insolvency solutions.

I often hear is that people think that because of the changes in the law that bankruptcy is not available. That is a myth! Filing for bankruptcy has changed significantly since the bankruptcy reform bill was passed by Congress.  However, the belief by many that it would prevent people from filing for protection under bankruptcy including Chapter 7, the part of the bankruptcy law that erases most debts has not proven to be true. The same bill was designed to make it substantially more difficult to file for Chapter 13 which is the bankruptcy law that allows for retention of property and a monthly repayment of debts has also proven to be a viable remedy and is still available after the implementation of the new law. Many people thought that the result of the new law would be that many consumers could be denied bankruptcy relief altogether. That is not true. It is true, that there are more rules and that the process of filing for bankruptcy has become more complex, but bankruptcy is still a remedy to be considered when faced with difficult financial circumstances

But is bankruptcy the right solution for me? Declaring bankruptcy is a serious step to take. It will take some of your time and money. It is often the right step – but it can remain on your credit record for up to 10 years. 

More often than not, if you are considering bankruptcy, it is the right solution. It can free you from crushing debt while protecting your assets.   Most consumer debt is discharged through bankruptcy, and even for those debts that do remain, you can often get lower payments or no/lower interest rates for other debts like child support arrears, student loan payments, and back taxes.  And contrary to popular belief, you may not have to give up any of your assets.  In the vast majority of the bankruptcy cases I have handled, my clients have kept all of their property. 

What about your credit record?  Chances are, your credit record has probably already been affected--bankruptcy won't necessarily make it worse.  You can obtain credit even after bankruptcy and in many cases bankruptcy can actually help you rebuild your credit rating faster because once you relieve yourself of the crushing debt you can handle the current bills on time on a monthly basis.

I can help you evaluate whether bankruptcy is best for you. I will help you look at alternate solutions to bankruptcy, including helping you negotiate with your creditors. If bankruptcy appears to be the best solution in your situation, I will help you decide which type of bankruptcy (Chapter 7 or Chapter 13) is best and will ensure you get the maximum debt relief and asset protection possible in your situation.