Bankruptcy 101: Is Bankruptcy Right for Me?

Bankruptcy 101: Is Bankruptcy Right for Me?

Bankruptcy
Bankruptcy is a viable solution for many people who are struggling to make ends meet due to large amounts of debt or other financial burdens. People in this position often work overtime, multiple jobs, or cut out any extra expenses in order to get a handle on their monthly bills and minimum payments on credits cards or loans. While a consumer bankruptcy is an option for some people, it may not be for everyone. If one or more of the following situations apply to you, then filing for bankruptcy may be the best solution for your financial problems: • Facing increased interest rates and/or late fees due to late payments and bad credit • Wages and income are being garnished • Considering paying off debt with retirement savings or an…
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Most Common Bankruptcy Questions

Most Common Bankruptcy Questions

Bankruptcy
Most Americans struggle with some level of debt, especially credit card debt. While most people feel hopeless as they struggle to keep up with interest through minimum payments each month, there is another solution: bankruptcy. Bankruptcy has largely been misunderstood and can actually be the most viable solution for many people’s financial problems. Below are some of the most common questions we get about bankruptcy at John K. Turner Law. Q: What is bankruptcy? A: Bankruptcy is a legal option for people struggling to pay their bills. Bankruptcy proceedings take place in federal court and allow people to get a fresh start. Filing for bankruptcy will also stop creditors from calling you to collect on debts, until you get your financial situation sorted out in your case. Q: Who can…
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