Today, the filing of a bankruptcy is usually the result of debts arising from the use of credit cards which for some extenuating circumstance that can now not be paid or because of the existence of extraordinary medical bills that were not covered by insurance. Debts of this type generally can be discharged in a Chapter 7 bankruptcy or restructured through a Chapter 13 or Chapter 11 bankruptcy proceeding. A discharge in bankruptcy can apply to many types of debt, including mortgage deficiency claims after foreclosure, balances on vehicle loans which were repossessed or surrendered, credit card debts and medical bills, as well as many other types of unsecured debts. Having to rely on a credit card due to the loss of a job, or getting numerous medical bills from an illness or sudden injury, can often result in enormous debt; debt that can never be paid regardless of your best efforts! All too often, these are the types of debts that compel people to seek out bankruptcy relief. Fortunately, bankruptcy can help ddress these types of debts and give you the ability to move forward with your life with a fresh start.
If you no longer check your mail on a daily basis and when you do, it just piles up on your kitchen table, there is assistance available. The Levine Law Office – – Providing clear solutions for your financial confusion for over thirty years! Contact us online or call today to schedule your FREE consultation and find out if bankruptcy is right for you.
Credit Card Bills
If you find yourself with growing credit card bills, you are not alone. The economic downturn has forced many of your neighbors, friends, family, co-employees and thousands more to use their credit cards and their hard won good credit to make ends meet . . . to pay their mortgages, to pay their rent, to purchase groceries, to put gas in the car, to pay for a child’s school trip; in short just to keep living. In some situations, these bills can lead to to creditor harassment and wage garnishment. However, you can make these collection actions stop by filing for bankruptcy. In most instances, once a bankruptcy is filed, an automatic stay goes into effect immediately. The filing of a bankruptcy stops all collection activities, including those directed at recovering monies due from you on credit card bills.
It is unfortunate that the cost of medical care associated with a chronic illness or sudden injury not covered by insurance can leave a family overwhelmed and contemplating the filing of a bankruptcy. The Levine Law Office has handled a number of cases involving people who have staggering medical bills. We can answer your questions about how bankruptcy can help you address your medical bills. Your medical bills can be part of a bankruptcy solution and can be among the debts subject to discharge or restructure, depending upon whether or not you file a Chapter 7 bankruptcy, a Chapter 13 or a Chapter 11. Determining the appropriate chapter for you depends on many factors, and it is best to consult with an attorney to assist you in making that determination.
The Levine Law Office – – Providing clear solutions for your financial confusion for over thirty years! Contact us online or call today to schedule your FREE consultation and find out if bankruptcy is right for you.