Do you need to file bankruptcy?
Yes to more than one? You should consider filing bankruptcy.
Bankruptcy is a “clean slate” for people with substantial debt. Once bankruptcy is complete, most people feel relieved to have a “fresh start,” meaning they start over without the stress of unpaid bills. There are different types of bankruptcy, but we help with Chapter 7 bankruptcy which allows you to discharge your debt without repaying creditors.
Frequent questions about bankruptcy
How much does bankruptcy cost?
It depends. We work with companies that charge flat rates and offer payment plans.
How long does bankruptcy take?
It depends on how quickly you need to file — but usually less than 6 months.
How long does bankruptcy hurt my credit?
If you need to file bankruptcy, your credit may already be in bad shape- so after your Bankruptcy is discharged your credit will likely improve. You could be back above a 680 FICO within 60 days after your discharge if you re-establish credit, pay everything on time, and check your credit to make sure all errors are corrected. We can help you with Credit Repair.
The Bankruptcy is a public record and will report for 10 years, and the accounts you discharged will report for 7 years.
Typically, you can qualify for most types of financing immediately after a Bankruptcy (e.g. credit cards and car loans). Also, most mortgage lending guidelines allow you to qualify for mortgage financing 2 years after a Bankruptcy.