Is Bankruptcy the Right Choice for Me?

It is the number one question asked of bankruptcy attorneys, “Is bankruptcy the right choice for me? Millions of people file every year and the decision is never easy. There is no one who wants to file bankruptcy. However, the protection can help you get out of debt and give you your life back. Would that be of benefit in your situation?

Many people believe that you can go to court, and you simply have your debts erased. But things are a bit more complicated than that. For individuals, there are two types of bankruptcy.

Chapter 7 has the potential to eliminate your debts, and Chapter 13 reorganizes your debts, helping you to pay all or part of what you owe. Nonetheless, either option will force an automatic stay to stop creditors and debt collectors from the continuing of debt collection activity.

So, how do you know if bankruptcy is right for you?

  • You are receiving debt collection calls at home or work.
  • A creditor, collection agency, or debt buyer has filed a lawsuit.
  • You have started to fall behind on your mortgage or rent payments.
  • You have started to use one credit card to pay another.
  • If you are starting to have trouble making the minimum payment on credit cards.
  • There is a garnishment of your wages.
  • You expect a repossession of your automobile.
  • You found yourself in the trap of payday loans.
  • The utility companies are threatening to shut off your electricity or water.
  • If you are paying on your balance, but the amount never seems to go down.
  • When is bankruptcy NOT the right option for you?

  • If you filed a bankruptcy and received a discharge within the last 8 years.
  • You clearly provided false or misleading information on a credit application.
  • If you ran up your debt on luxury items immediately before filing.
  • When you expect more debt from necessities, like ongoing medical costs. In this case, consider waiting.
  • What haven’t we covered yet that is important to you? If you would like to talk and learn if bankruptcy is the right choice in your situation, or you need more information, please contact us.

    Have the professionals guide you out of this horrible event the right way but also the quickest way. With over three decades of experience, HARRIS S. AMMERMAN, is dedicated to serving anyone who is experiencing overwhelming debt and needs to file for bankruptcy relief under Chapter 7, or chapter 13. We are pleased to serve the Washington D.C., Maryland and Virginia areas, call today at (202) 638-0606 for a free consultation. If you would like to talk more about how to rebuild your credit after bankruptcy, or need additional information, please contact us.

    Harris Ammerman
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