Home

Bankruptcy Solutions - A Simple But Effective Answer To Debt Problems
If you've recently found yourself in a financial situation that would make bankruptcy seem like the only option, I'm going to offer you some bankruptcy solutions for getting out of debt. When you're financially strapped, the last thing you want to do is go through a bankruptcy process. This process can be complicated and very stressful. But if you have no other choice, the best course of action is to consult with a Bankruptcy Lawyer to determine what your options are. If you answered yes to either of the following questions, you should immediately contact the lawyers in Express Bankruptcy Solutions for your free no obligation, no credit debt relief consultation to schedule your no win no fee debt consolidation consultation.

Without a Bankruptcy: You can: Refinance your home, clear your debts, obtain a loan or credit counseling, enroll in an Individual Voluntary Arrangement (IVA), or file for Chapter 7 bankruptcy. Among the bankruptcy solutions listed above, IVA's provide the greatest benefits. However, they require the highest percentage of bankruptcy filers to successfully complete. And since IVAs typically last for a decade, your medical bills and debt may still be accumulating even after a successful IVA. And while filing for a Bankruptcy will eliminate most medical bills, the credit reporting process may prevent you from obtaining needed loans or credit in the years following a bankruptcy.

If you have an IVA in place, it will affect your credit negatively. Bankruptcy solutions which include an IVA are not advised unless all other options have been explored. In order to protect your financial future, and possibly prevent your IVA from being converted to a chapter 13 bankruptcy, it is in your best interest to consult with a Bankruptcy Lawyer prior to making any final decisions regarding your financial future. A Bankruptcy Lawyer can help you understand the various forms of bankruptcy, which solutions will work best for your unique circumstances, and can discuss the various options available to you as a result.

Two of the more common forms of Bankruptcy solutions include Individual Voluntary Arrangements (IVAs) and Chapter 13. For most individuals, IVAs are the most preferable bankruptcy solution. An Individual Voluntary Arrangement involves you voluntarily paying your debts, while making monthly payments into a trust fund. These payments are used to pay your creditors on a monthly basis. While the creditor will continue to receive payments for as long as you are enrolled in the plan, once the program is terminated, creditors receive nothing. Learn more about  Bankruptcy and Debt, go here. 

Chapter 13 bankruptcy is considered one of the more extreme forms of Bankruptcy solutions. A Chapter 13 bankruptcy requires that you declare bankruptcy, give notice to creditors of your intention to file, and then undergo a court hearing to determine the amount of your debt. Once the court determines your debt to "universally default", this means that you have fallen behind in your debts, and the court will require you to repay a portion of your debt. You can ask the court to allow you to use an "automatic stay", which means that any further attempts to collect the debt will be immediately stopped. This gives you immediate financial problems, however, you may still be able to negotiate with the creditor to arrange a more affordable payment plan to suit your individual situation. Find out for further details on Bankruptcy Trustee  right here. 

If you are unable to come to an agreement with your creditors, or would rather file a chapter 13 bankruptcy claim, the next step would be to hire a bankruptcy lawyer. While there is no guarantee that your chapter 13 bankruptcy filing will help your individual financial situation, it is definitely worth your time to investigate this method of debt relief. Many people have found that filing a chapter seven bankruptcy claim is the fastest and most efficient way to eliminate their debts. In order to be sure that you are working with a reputable bankruptcy attorney, seek legal advice and recommendations before hiring any firms. The internet is a great source of information regarding bankruptcy, and you may want to utilize this research before entering any legal agreements. Take a  look at this link https://money.howstuffworks.com/personal-finance/debt-management/bankruptcy.htm    for more information.