Bankruptcy

Down to your last dollar?

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Is bankruptcy right for you?

A few questions to consider:

Are you constantly juggling bills?
Paying some creditor this month, some next month but rarely all in the same month?

Are you only paying the minimum payment on your debts each month?

Are you withdrawing money from your retirement accounts to stay even each month? (Usually a very bad idea!)

Are you living off your credit cards
(instead of your paycheck)?

Are you borrowing from friends, family or payday loans to get through each month?

Are most of your incoming calls from your creditors or bill collectors?

Have you ever wondered if bankruptcy is a viable option for you?

The more you answer "yes" the more you should consider bankruptcy.

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(John R. Ceci and John Ceci PLLC are considered debt relief agents and they provide bankruptcy services.).

Bankruptcy can be a difficult decision...but sometimes it is the best decision.

Call me to see if it's the right decision for you.

810-299-2734 or 517-540-1272

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General Bankruptcy Information

There are a few different "chapters" one can use when filing for bankruptcy protection.

If you are an individual Chapter 7 or 13 is almost certainly the chapter you will use.

In a Chapter 7 bankruptcy:

Most (sometimes all) of your debts are completely wiped out ("discharged") and you are allowed to keep a certain amount of property to help you start over (also called a "fresh start.").

In a Chapter 13 bankruptcy:

You ask the court to approve a plan that pays a portion of your debts over time (typically 3 to 5 years). If you fulfill your plan most (but not necessarily all) of your remaining debts are wiped out.

Others Basic Information:

Some debts cannot be discharged in bankruptcy.

Common examples are certain tax debts, student loans, child support and spousal support.

Three important things to know about bankruptcy:

Filing for bankruptcy protection involves disclosing a lot of information about your financial situation to the bankruptcy court.

Full disclosure of all requested information is a must! Bankruptcy is not a pick-and-choose-what-you-want-to-reveal sort of endeavor.

Credit counseling is required before you file and before you get your discharge.

All these topics will be discussed further during your initial appointment.

Links to More Information:
This site offers more general information

http://www.nolo.com/legal-encyclopedia/chapter-7-bankruptcy/

http://www.nolo.com/legal-encyclopedia/chapter-13-bankruptcy/;jsessionid=5F802BB52D644CEC903DD68927B6D843.jvm1

I am not affiliated with this site and am not paid anything if you follow this link.