Today, many families are struggling financially under the weight of high interest credit card debts. Credit card companies and banks often bring lawsuits to collect overdue debts. Bankruptcy can potentially stop these lawsuits and help families with their debt problems.
As you may already know, the bankruptcy law changed in October 2005. Despite the change in the law, many people will still be able to file bankruptcy and eliminate all of their debts.
Depending on your situation, a chapter 7 bankruptcy can do the following:
1) BANKRUPTCY CAN ELIMINATE THE LEGAL REQUIREMENT TO PAY CREDITORS. THIS INCLUDES CREDIT CARD DEBTS SUCH AS AMERICAN EXPRESS, VISA, MASTERCARD, MACY’S AND NEARLY ALL OTHER CREDIT CARDS.
2) BANKRUPTCY CAN STOP LAWSUITS.
3) BANKRUPTCY CAN STOP WAGE GARNISHMENTS ON SALARIES.
4) BANKRUPTCY CAN STOP HARASSMENT AT HOME OR WORK.
If you or someone you know needs our help, please call us today for a free telephone consultation. We have appointments available Monday through Saturday and your first visit to our office is free. Our office is located at 30 Vesey Street in the City Hall area and can be easily reached by all major subway lines.
The bankruptcy law is designed to give people with debt trouble a fresh start. We also advise our clients on how to manage their credit after bankruptcy.
There is no truth to the urban legend that you have to go for seven years with bad credit after filing bankruptcy. Bankruptcy will be on your credit report for 10 years, but even so you can have good credit in just three years. Our clients often have purchased cars and even qualified for mortgages two to three years after bankruptcy.
People who file bankruptcy are often surprised by how quickly they’ll start getting credit card offers in the mail again. Offers for unsecured or secured credit cards (which require a deposit to the bank) with a low limit can arrive within a month of the debt discharge. Some of these cards are unsecured. Some are even offered to people by the same credit card company that was listed on the bankruptcy
You are welcome to call us and discuss your case on the telephone before visiting our office. If you are interested, call us at (212) 315-3755.