What is Bankruptcy?

Are you struggling with out of control debt?  You’re not alone.

Millions of Americans find themselves unable to pay down their debt.  Out-of-control credit card interest rates, massive medical expenses, income shortfalls and a variety of other frequently encountered problems can turn virtually anyone’s economic life upside down, resulting in stressful debt problems.

Fortunately, the law recognizes that debt can be a serious problem for many people and has created a remedy for those who need a way to get out from under their mountains of obligations:  Bankruptcy.

Bankruptcy is a “fresh start.” It is an option you can turn to when your debts become overwhelming.

Filing bankruptcy puts an automatic stop to collection activities and the discharge of your bankruptcy releases you from the liability of your debts.

You can’t file for bankruptcy if you have the ability to pay your debts.  If you have some ability to pay them, you may be eligible for a Chapter 13 bankruptcy.  If you simply can’t pay your debt, you may be eligible for a Chapter 7 bankruptcy.

Des Moines Bankruptcy attorney Sam Marks can talk with you about your situation to help you decide if bankruptcy is right for you and which kind of bankruptcy for which you may qualify.  Your income, expenditures, debt load, how your income compares to the IRS averages for your family size and county, and other factors can influence the right approach to bankruptcy for you.

Marks Law Firm is committed to helping people find the best possible ways to deal with their debt problems and is ready to help you.  Call or contact Marks Law Firm for a free bankruptcy consultation.  There’s no obligation and all discussions are held in strict confidence.

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