Bankruptcy gives debtors, that want to honor their debts, a chance to fix their finances.  It can forgive most debt entirely and give you a clean slate.  This is known as a chapter 7. Another option allows you to forgive some debts and pay back others over a 3-5 year repayment.  This is known as a chapter 13.  So many debtors have tried everything in their power to stay current on payments.  From dipping in, and clearing out 401k accounts, emptying savings, taking loans, to family possessions that were passed down for generations, I’ve seen it all.  You are not alone.  

When you find yourself asking questions about the above, be sure and try to avoid so called bankruptcy mills.  Typically these larger law firms will have many attorneys and file for you, without ever giving you a consultation. Most bankruptcy mills share the following:

  1. Big spending on advertising.
  2. The biggest will have hundreds of filings each month.
  3. Your initial consultation will be on the phone and most likely with a paralegal or a legal assistant.
  4. Little or no contact between a client and an attorney occurs.
  5. You will typically only meet with a paralegal or legal assistant.
  6. Many will have excuses as to why things are not getting done as promised.

Avoiding the pitfalls of using the big guys is important.  Remember, you deserve to have one on one  consultations – this is the only true way to assess your current financial situation.  

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