Griffin Law Group
Bankruptcy“Bankruptcy, while a tough decision to make, can be the best option for your financial wellbeing by offering a chance to eliminate debt, stop creditor harassment, and start rebuilding your financial life.”
Christian Griffin Esq.
Filing Bankruptcy
Bad things happen to good people. If you are struggling with overwhelming debt, we at Griffin Law Group are here to help. We will listen to you and learn your specific financial circumstances. Then we will discuss your options and tailor a plan to accomplish your specific goals. Everyone’s life is different, so only by talking about your life can we figure out the way to best help YOU.
Who should file for Bankruptcy ??
Bankruptcy is individual, it is never a one-size-fits all solution. Whether bankruptcy can help YOU depends entirely on YOUR life and your situation. However, here are a few general situations where bankruptcy may be the right choice:
- Struggling to pay bills: Even if you are not behind on your bills, if you are only able to make the minimum payment or find yourself choosing which bills you can afford to pay, bankruptcy can help.
- Stop Calls: Bankruptcy can stop annoying and humiliating collection calls. Unlike other “solutions” like negotiation and debt consolidation, Bankruptcy prevents creditors from collecting from you, can force creditors to work with you and, in many circumstances, can discharge your debts in full.
- Facing Foreclosure: Bankruptcy may be able to stop a foreclosure sale. If you are behind on your mortgage, bankruptcy may allow you to get caught up and keep your home.
- Facing Repossession: Bankruptcy may prevent repossession and may even allow you to get the vehicle back. Bankruptcy may also allow you to restructure your loan or to get caught up on your payments so that you can keep your vehicle.
- Lawsuits or Wage Garnishments: Bankruptcy may halt lawsuits and stop wage garnishments. Bankruptcy may also allow you to protect your future wages and assets from these lawsuit creditors.
Types of bankruptcy
There are several types of bankruptcy, each with their own requirements and benefits. Here is a brief overview of the three most common types:
Chapter 7 bankruptcy: Chapter 7 is the most common form of bankruptcy. Chapter 7 is designed to provide debt relief. In a Chapter 7 bankruptcy, most of your unsecured debts are discharged, including credit card debt and medical bills. However, not everyone is eligible for Chapter 7 bankruptcy, some debts may not be discharged, and some assets may not be protected.
Chapter 13 bankruptcy: Chapter 13 bankruptcy is a repayment plan. Chapter 13 bankruptcies are designed to provide a set monthly payment that fits into your budget for a period of 3 to 5 years. Your Chapter 13 payment will be applied to assets you wish to keep while discharging any remaining balances to unsecured creditors like credit cards and medical bills.
If you are struggling with debt, we at Griffin Law Group will sit down and discuss the best option for YOU and YOUR circumstances. Don’t struggle any longer, call for your free consultation today.