Facing overwhelming financial challenges can be scary. You might wonder how you are going to care for your family, maintain your living arrangement and protect your most prized possessions. Although there are many debt relief options out there, perhaps none is as effective as bankruptcy. Some people may cringe at the sound of the word, but those who find themselves in debt may want to get comfortable with the term, as it could give them the fresh financial start they need, lifting a heavy burden off their shoulders.
If you are struggling with debt, then you might be unsure about how the bankruptcy process plays out. Many individuals think that bankruptcy will leave them with nothing, making it impossible to reclaim financial footing. This, however, is untrue. The Bankruptcy Code has provisions built in to give petitioners a certain amount of financial security. For example, a certain value of your home may be exempt from bankruptcy proceedings and, as was discussed in a previous post here, so too may some retirement accounts.
Nevertheless, successfully filing for and completing a bankruptcy plan requires careful planning, organization and knowledge of the law. Getting the right information can help you navigate the bankruptcy waters in a way that ensures your best interests are as protected as possible.
At our law firm we work with individuals to help them find the debt relief they deserve. We attempt to assess each case to utilize existing laws providing for exemptions, hopefully leaving our clients in the best financial position available given their circumstances.