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ELIMINATE DEBT FOREVER!

• Keep your property
• Reorganize Debt
• STOP Foreclosures
• STOP RUDE CREDITOR Harassment
• STOP Repossessions
• STOP Lawsuits
• Eliminate or Reduce Taxes, IRS Interest and Penalties
• Discharge Debts

Bankruptcy And Debt Relief

• Bankruptcy: What do you do when you CAN'T pay your bills?
  
  Financial circumstances lead you to seek shelter from your creditors by using the United States Bankruptcy Code. Bankruptcy is a way of protecting your possessions while allowing you to eliminate all or some debt and EMPOWERING you to get a fresh start, a new beginning, to wipe the slate clean, and start over.

• What is Bankruptcy?
  

  •  Bankruptcy law consists of Federal and State laws that allow you to file a petition in federal court to discharge your debts. The two most common forms are Chapter 7, often referred to as "Straight Bankruptcy" and Chapter 13, sometimes called BILL CONSOLIDATION, referred to as the "Wage Earners" or "Reorganization" plan. Chapter 11 involves primarily businesses, while Chapter 12 helps the family farmer. You should consult with an attorney before deciding which chapter of the bankruptcy code is right for you.

• Can I keep my property if I fileæ bankruptcy?
  
  • Yes! You will probably be allowed to keep most, if not all your property. If you are behind on your house payment, you may be able to catch up on those payments and prevent foreclosure by using the protection of the bankruptcy code. Certain items are "exempt" under Federal and State law, allowing you to keep your homestead, vehicles and other personal property. Often parties who are experiencing problems with high interest rates can find relief from that burden through the bankruptcy code.æ

• Can Bill Collectors Still Call Me?
  
  •  NO!æ Once we have filed your bankruptcy and let your creditors know, they are by law prohibited fromæ contacting you. The creditors are prohibited from foreclosing and repossessing property by what is called an automatic stay. Violation of the "automatic stay" can result in stiff penalties by the bankruptcy court against the creditor, including high fines.

• Can I eliminate back IRS taxes?
  
  •  Yes! Some back taxes may be completely eliminated. If you are experiencing difficulties with IRS penalties and interest, you may wish to consult with an attorney at The Law Offices of Michael Spinks. Some taxes can be completely eliminated when we file your Chapter 7 bankruptcy. You will not have to ever pay them. Many tax problems can be worked out through a Chapter 13 plan, stopping or limiting the amount of penalties and interest the IRS will charge you.

• What will it cost me to file bankruptcy?
  
  • æEach individual's financial situation is different. You should e-mail, call, or come in, and sit down with one of our attorneys and discuss your financial situation. A Chapter 7 bankruptcy is considered a liquidation bankruptcy, in which your unsecured debts are totally discharged. However, this does not necessarily apply to those debts that are secured. It is very important to consult with an attorney to decide which is best for your situation.

• Will bankruptcy hurt my credit?
  
  • DEPENDS. If you already have damaged credit, bankruptcy will give you a chance to create all new, good credit.

• Which is worse, all these bad debts that I am not paying, or bankruptcy?
  
  • Bankruptcy can and will solve the debt problem. It will bring finality to a bad debt situation that can go on for years if ignored. Bankruptcy can even prevent a creditor from obtaining a judgment against you and can also avoid a judgment that has already been taken. It allows you the chance to wipe the slate clean and start your life over. ææUltimately, when we file your bankruptcy, you recover and reestablish a solid foothold on life, empowering you to move forward from the stress of overwhelming debt and relentless bill collectors, wipe the slate clean, and start over.

 

Contact us for a free appointment so we can discuss your particular situation and show you how we can help.

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