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BANKRUPTCY

Bankruptcy

What is Bankruptcy?

There are different types of Bankruptcy, but we help people with Chapter 7 which allows people to discharge their debt without repaying creditors.

How much does it cost?

We charge $2,000 to $3,000 (includes filing fees) and we offer a payment plan, and credit repair & credit counseling to restore and improve credit after discharge.

How long does it take?

It depends on what you need, and how quickly you need to file. But from the time of filing to the time of discharge takes typically 6 months. Why? Unfortunately, it is not our timeline, it is a process and a legally complicated one.

How long does bankruptcy hurt my credit?

If you need to file bankruptcy, your credit may already not be so great- so after your Bankruptcy is discharged your credit may actually improve. We encourage people to re-establish credit after a bankruptcy, and within a year your credit should be back in the high 600s. The Bankruptcy itself will stay on your credit report for 10 years, and the accounts you discharged will remain for 7 years. But typically, you can qualify for most types of financing immediately after a bankruptcy (e.g. credit cards and car loans). Also, most mortgage lending guidelines allow you to qualify for mortgage financing 2 years after a bankruptcy. The whole bankruptcy will ruin your life thing is a myth. You can always recover, because there are always options.

Are there alternatives to Bankruptcy?

Yes. Debt Consolidation is one, but there are others. What is right for you, is not the same as what is right for someone else. We want to help you find solutions, and sometimes you may not need to do anything. Why guess when you can know?

How do I get started?

Schedule a consultation- it’s only $25.
 
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