Bankruptcy is designed to allow those who owe more than they can possibly pay a chance to reduce or dissolve that debt, avoid giving all their assets over to their creditors, and start with a clean slate. It is not a simple process.
From the U.S. Government's information sheet:
"You are cautioned that bankruptcy law is complicated and not easily described. Thus you may wish to seek the advice of an attorney to learn of your rights and responsibilities should you decide to file a petition. Court employees cannot give you legal advice."
Semisch Law has been handling bankruptcies efficiently and with as little pain as possible for over fifteen years. We handle consumer bankruptcy, Chapter 7 and Chapter 13 cases.
If you wish to explore the possibility of declaring bankruptcy, you will need to answer a number of questions, such as:
Documentation is key: you will need to answer the questions and provide evidence that your answers are complete and correct.
Typically after you have answered all the questions, we will work with you to determine whether bankruptcy is appropriate in your case and if so, which chapter. If appropriate, we file a petition and there follows a creditors meeting with a trustee where objections can be made by the trustee or the creditors.
We work with you each step of the way, working toward a fair and livable outcome.
We are a debt relief agency. We help people file for relief under the bankruptcy code.