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"The Seattle Legal Helpers team was awesome to work with. They were understanding of my difficult situation. The attorney I worked with was able to file my case pretty fast, and she was also able to allow me to make monthly payments toward my bankruptcy case. I retained Legal Helpers with $100.00 and they helped me by taking my creditor's phone calls."

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Life is full of hard choices. An attorney filing bankruptcy for you can be a hard choice; however, it may be necessary. You stand to lose too much. There are protections for your assets. Your family is depending on you to make the right choice. If you have exhausted all options, there is still one solution left.
Our world has experienced significant change in the past couple of years. Millions of people are trying to cope with a significantly lower income. How do you pay your bills with less than half your previous salary? You can not. Unemployment rates remain stubbornly high; therefore, jobs are not easy to attain. In fact, menial jobs are competitive now. At some point, an attorney filing bankruptcy for you may be a viable option. I know it is not ideal, but circumstances can be out of your control. There must be some attempt to stop the financial bleeding.
Surprisingly, bankruptcy can have some important advantages. Now, no one is denying the negative impact either; however, the good can outweigh the negative in certain cases.

Let's imagine that you have lost a $100,000 job, and you find a new job paying $40,000. That is certainly not even half of your previous salary. Then you take on a second job earning $10,000 more per year. Two jobs later, you still have only half the income of your previous one job. Furthermore, the job market is dried up, and there are no other opportunities in sight. During the first year, you tap into your savings to tide you over. Then the recession continues to drag on for two years. You have now used up your savings, and the retirement account has been drained. Loans from family and friends are not possible anymore. What do you do now? The foreclosure notice is in the mailbox. An attorney filing bankruptcy on your behalf could be your best chance.
Bankruptcy can provide some relief from financial pressure. The creditors are calling. You are overwhelmed with money issues. You are not a deadbeat. In fact, you are very responsible; however, life situations happen to everyone. To continue on a downward spiral is not the solution. You must take the reigns of your life, and you can use the tools available to you.
The most common types of bankruptcy are chapter 7 and chapter 13. The attorney filing bankruptcy for you will evaluate your situation; the circumstances in your specific case will determine which course to take. A chapter 7 bankruptcy almost totally wipes the slate clean. Thus, this type of bankruptcy is often better; however, new laws significantly limit the filing of this bankruptcy. There are strict rules that are supposed to prevent abuse. The new laws give creditors much more power. Chapter 13 bankruptcy is the most common today. More people are forced to accept this type. Your attorney filing bankruptcy will be able to tell you which one is feasible.

Chapter 13 bankruptcy is basically debt reorganization. Debtors have five years to repay debts. Creditors may be forced to accept a lesser debt amount. This bankruptcy will stay on your credit report for 7 years. Since 2005, the number of chapter 13 bankruptcies have increased tremendously. The current recession is leading many people to file chapter 13 bankruptcy. You must make decisions to protect your family's future.

 

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