Bankruptcy is a the perfect tool in some cases to protect individuals and give them a fresh start.  Whether you choose to file a bankruptcy or not understanding how bankruptcy works and the advantages and disadvantages is important information that you need before you commit to consolidating your debt, refinancing your home, using credit counseling services and using your retirement to bail yourself out of debt.

    Bankruptcy can protect your assets from creditors, stop wage garnishment, stop foreclosure and stop the repossession of your vehicle.

Bankruptcy can also help people who want to sell their home retain as much equity as possible by using their full allotted homestead exemption.

    Foreclosures have increased exponentially and the housing market has had negative impact on all home owners.  Adjustable rates have increased and property taxes have continued to increase making it harder to own your home.  This combined with the increase in fuel costs, the onset of winter and upcoming heating costs has everyone worried.  In some circumstances bankruptcy can lower your monthly payments and get you back on track to keep your home.

    Judgments against you become liens on your property and prevent you from selling it.  Depending on the value of your home you may be able to eliminate these judgments and protect your home.

Call to make an appointment today.

I can help. 518-372-5097