Bankruptcy

Most of us have some type of debt but when you have recently been divorced, lost a job or suffered a medical setback, debt can become overwhelming and cause you undue stress and prevent you from moving forward. If you are one of the thousands of people who cannot seem to manage your current debt load because of reasons you had no control over, you may wish to consider filing bankruptcy and get a fresh financial start.

Chapter 13 Bankruptcy: Reorganize Your Debt

Chapter 13 of the U.S. bankruptcy code allows consumers to consolidate their debt, pay specific amounts for a period of up to five years and move on to a more stable financial future. Some debts may be reduced depending on the type of debt. Talk to your Fresno bankruptcy attorney about your options and responsibilities when filing Chapter 13.

Chapter 7: Wipe The Slate Clean

Debtors with few assets and high debt who can meet the requirements of the bankruptcy means test may be able to file Chapter 7 bankruptcy. Keep in mind, you cannot eliminate most taxes, child support obligations, student loans or most judgments by filing but most credit card debt would be eliminated allowing you to start over as if you had never had a credit card.