Stopping Creditor Harassment
Have you found yourself overwhelmed with credit card debt? Have you suffered a divorce, unexpected medical problem or a work layoff?
No matter how you have accumulated your debt, your creditors won’t stop harassing you until you have settled your debt.
For more than 40 years, I have been assisting residents of eastern Iowa who have found themselves plagued with unpaid bills and confused about whom to turn to for help with debt relief.
Credit Card Debt Relief
Chapter 7 bankruptcy, often called liquidation bankruptcy, is part of the bankruptcy code that allows a person to eliminate individual debt such as credit card bills, medical debt, personal loans, utility bills and other unsecured debt and allow discharge of secured debt before or after repossession or foreclosure to avoid the collection of deficiency balances.
This type of bankruptcy is usually the quickest and easiest way to eliminate your debt, usually taking about 90 to 120 days from case filing to discharge. A Chapter 7 bankruptcy:
- Stops creditor harassment
- Stops wage and bank account garnishments
- Stops judgment liens on your property
- Stops all debt collection lawsuits
The Automatic Stay
As soon as you file for bankruptcy, all collection activity will immediately halt. This will allow you the breathing space to assess the financial resources available to manage any debt left over when your bankruptcy is completed.
While some debt cannot be discharged through Chapter 7 bankruptcy, like child support, most debt will be permanently eliminated. Certain debts, such as auto loans, can be reaffirmed and continued on or put back on a normal payment schedule, avoiding repossession of a necessary family asset.
And while it is sometimes called ‘liquidation bankruptcy,’ most people who file typically do not have any ‘assets’ that the bankruptcy trustee will liquidate. The vast majority of Chapter 7 bankruptcy filings are ‘no asset’ and you likely will keep all of your personal property.
When you consult with a Chapter 7 bankruptcy lawyer like me, we will work together to determine your best debt relief option, whether it is through Chapter 7 bankruptcy, Chapter 13 bankruptcy or a nonbankruptcy workout. Your specific financial circumstances, including your household income and expenses, will help determine your eligibility for Chapter 7.
Contact Me Today
If you want to learn more about your debt relief options, please call my firm Rush M. Shortley, Attorney at Law, at 800-592-1969, or email me, to schedule a no-charge, risk-free, confidential initial bankruptcy consultation at my Cedar Rapids or Coralville offices. My hours are Monday through Friday, from 8 a.m. to 5 p.m., and early evenings and Saturdays by special appointment.
Rush M. Shortley, Attorney at Law, is a debt relief agency. My firm helps people file for bankruptcy relief under the Bankruptcy Code.