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Are you ready to overcome your debt?
John never knew that it would come to such a pass. He had a good job, good wife, children, house, car and was well respected in society. But his over indulgence and excessive use of credit cards ensured that his savings dried up and before he knew it, he was neck deep in credit.
Once in the quagmire of debt, he lost his job because he was unable to concentrate on it, and before he knew it, he was without his house and car, his wife left him along with his children and he was pondering on what he did wrong to get into such a mess.
The best option for John to reclaim his life was to opt for bankruptcy. At its most basic level, Bankruptcy is a means for honest, hardworking people to obtain relief from overwhelming debt. Some types of Bankruptcy erase most debt altogether, while other types allow people and businesses to restructure their debts so they can make payments to their creditors while still making a living. Kansas City Foreclosure
Chapter 7 Bankruptcy is a liquidation proceeding. The debtor turns over all non-exempt property to the Bankruptcy trustee who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts usually within four months. In a majority of cases the debtor has no assets that he/she would lose so Chapter 7 will give that person a relatively quick "fresh start".
Chapter 13 Bankruptcy is also known as a reorganization Bankruptcy. Chapter13 Bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years. This type of Bankruptcy appeals to individuals who have non-exempt property that they want to keep, or prevent foreclosure/repossession of assets. It is also only an option for individuals whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.
At the Law Office of Jennifer Dodson we are dedicated to providing you the finest resources, counsel, and representation to protect your rights. Your needs are our top priority, and we are dedicated to getting you the help you deserve.
Law Office of Jennifer Dodson is a consumer law firm that focuses on Chaper 7 and Chapter 13 bankruptcy in Kansas and Missouri. For more information visit http://www.jdodsonlaw.com