Defined simply, bankruptcy is the legal proceedings in the United States Bankruptcy Courts, pursuant to the United States Constitution, Title 11 of the U.S. Code,where someone can seek a new financial fresh start. By declaring bankruptcy, you put an official halt to most collection activity until such time as there is an official ruling concerning your financial situation.
Declaring bankruptcy offers many advantages in the face of insurmountable debt. By declaring bankruptcy, it may bepossible for you to:
Bankruptcy, however, is not a cure-all for every situation and you should seek an experienced bankruptcy lawyer. It is a very serious declaration and should not be taken lightly. In fact, bankruptcy MAY NOT:
There are certain steps that MUST be followed before you can file for bankruptcy. The first step we recommend is for your to meet with attorney Michael J. Heath. You must also take a “Credit Counseling Course” from an approved non-profit credit counseling agency, specifically approved by the U.S. Department of Justice’s U.S. Trustee program, specifically for those people filing bankruptcy. We will provide you with all the details during your free consultation. During the preparation process for your bankruptcy filing, in addition to meeting with the Law Office of Michael J. Heath, you should be prepared to provide the following information and/or answer some important questions in order to expedite the process:
For more information concerning frequently-asked financial and bankruptcy law questions, or to schedule your FREE consultation with us, please call the Law Office of Michael J. Heath at 757-431-8665.