|
|
|
|
 |
|
|
|
|
|
|
|
| |
Bankruptcy: Taboo or Financial Savior?
You never expected to get injured, laid off, divorced or
suffer a death in the family. But it happened and now you
are behind in your mortgage payments and the mortgage
company is starting foreclosure proceedings. What should
you do? What can you do? Is bankruptcy an option? Will you
be financially ruined?
In general, any person, regardless of how much he or she
owes, can file for bankruptcy. There are several types of
bankruptcy, however. If you are behind in a secured debt,
such as your mortgage, car note or taxes, you should file
for protection and relief under Chapter 13 of the
Bankruptcy Code. In a Chapter 13 bankruptcy, a person
continues to pay off debts under an installment payment
plan administered by a trustee. Filing a Chapter 13
Bankruptcy, in most instances, will protect your home,
car(s), bank accounts, retirement accounts and pensions,
as well as your personal belongings.
If you decide to file, will you be financially ruined?
Absolutely not. It is true that a bankruptcy will be on
your credit report for ten (10) years. However, as a
general rule, there is no limitation on the future ability
of a debtor to own real estate or to acquire personal
property after filing bankruptcy. In other words, you will
still be able to obtain credit.
If you do feel that bankruptcy is necessary, you should
consult a lawyer. You will need a lawyer to handle the
filing, explain the procedures, evaluate your exemptions
and debts, and attend to all other matters involved in a
bankruptcy proceeding, as well as give you the peace of
mind that you deserve.
For more information, contact us at
info@freedmanlorry.com or call (888) 999-1962. |
|
| |
|
|
|
|
|
| |
Disclaimer:
Materials on this site have been prepared by Freedman & Lorry, P.C. for general informational purposes only.
These materials do not, and are not intended to, constitute legal advice. These materials may be considered
advertising in your state. Freedman & Lorry, P.C. does not wish to represent anyone desiring representation
based upon viewing this site in a state where this site fails to comply with all laws and ethical rules of
that state. The information provided at this website is not privileged and does not create an attorney-client
relationship with Freedman & Lorry, P.C. or any of the firm’s lawyers. The act of sending an e-mail to
Freedman & Lorry, P.C. or any attorney at Freedman & Lorry, P.C., or submitting a form response or other
materials through the site, will not create an attorney-client relationship. If you are not currently a client
of Freedman & Lorry, P.C., your e-mail will not be privileged and may be disclosed to third persons. This
website is not an offer to represent you. You should not act, or refrain from acting, based upon any
information at this website. You should also be aware that should you e -mail us, your e-mail will not
constitute a privileged communication because it may be read by third parties in transit. If you send e-mail
to us, you confirm that you understand and agree that law firm will have no duty to keep confidential the
information you are transmitting to law firm. |
|
| |
For more information e-mail us at:
info@freedmanlorry.com. |
|
|
|
