Debt Relief Options
Chapter 7 | Fresh Start or Debt Elimination
Chapter 7 Bankruptcy is the most common form of bankruptcy and was designed to provide people with a way out from the burden of debt they can longer pay. It is generally the quickest form of bankruptcy & allows indivduals to eliminate debt.
Chapter 7 Bankruptcy is the classic "wipe out" bankruptcy. Unsecured debts like credit cards, medical bills, and other debts without collateral are usually dischargeable in Chapter 7. If you have a lawsuit for an unsecured debt, you might be able to stop it with a Chapter 7 bankruptcy.
Bankruptcy is government debt relief! Most of the time in Chapter 7 you can keep your personal possessions, house, and car while eliminating burdensome unsecured debts. There are special qualifications, but getting the right advice from a bankruptcy attorney or law firm is the best way to find out if you are eligible.
Stop your lawsuit with a Chapter 7 bankruptcy. Eliminate your unsecured debts and protect your paycheck from garnishments. Call 888-331-1980 today to speak to a Gearci Law bankruptcy constultant and qualify for real debt relief!
Chapter 13 | Reorganization of Debt
Chapter 13 Bankruptcy is a consolidated repayment of debts. Besides stopping lawsuits there are several reasons why someone would file Chapter 13 bankruptcy. Chapter 13 gets all of your creditors into an affordable monthly payment based around your real budget. In most cases, interest and late charges are elimnated, meaning you only pay back the principalof what you owe. Ever dream of having your credit cards paid back at 0% interest? Chapter 13 may be the answer!
Lawsuits get stopped in Chapter 13, including foreclosures. Chapter 13 can help you get caught back up on your mortgage payments if you are behind. Although bankruptcy cannot alter your current mortgage payment, it does allow you get caught back up on your mortgage payments and stop the foreclosure from going through. Even if you are not in foreclosure but still behind on your mortgage payments, Chapter 13 helps get you caught back up on the house!
Most Chapter 13's can be filed in a very short period of time, sometimes within days. If you need a lawsuit or garnishment stopped now, Chapter 13 may be right for you. Finally, in some cases, you may be eligible to pay back a portion of what you owe to unsecured creditors. Chapter 13's can alter the overall amount that gets paid back to creditors, and it is mostly based off of your budgetary allowances. Obviously, you need to call to qualify for any of these Chapter 13 benefits, so dial 888-332-1980 today to find out for free if you are eligible.
How Does Bankruptcy Affect Lawsuits?
Simply put, in most cases, filing bankruptcy stops civil lawsuits! Creditors are stopped from suing, garnishing, or foreclosing. Credit cards, medical bills, foreclosures, personal loans, payday loans, old utility bills, evictions and many other types of debts are dischargeable through bankruptcy. When a case is filed in bankruptcy court, an "Automatic Stay" is issued which ceases all collection actions against all creditors. This means no more bills in the mail, no more harassing phone calls, no more garnishments and no more lawsuits! People who file Chapter 7 bankruptcy or Chapter 13 bankruptcy recieve protection from lawsuits, meaning there is more than one solution for managing debt with a Geraci bankruptcy!
Lawsuits can have serious consequences in many areas of a person's finances. Lawsuits, if allowed to go to judgment, can end in garnishments, frozen bank accounts, and liens on real estate. Bankruptcy can stop all of this from happening if the debt is eligible and the case is filed in time. Time is a factor when stopping lawsuits, so if bankruptcy sounds like a real option for debt relief, it is generally best to file ASAP.
There are some instances where filing bankruptcy does not stop a civil lawsuit. You should always consult a bankruptcy attorney or law firm to determine whether your lawsuit may be stopped by a bankruptcy discharge. Call 888-331-1980 today to have a free phone mini-consultation with one of Peter Francis Geraci's bankruptcy consultants and to schedule an appointment at one of our conveniently located bankruptcy law offices in Illinois, Indiana and Wisconsin!