Many people are under the misguided belief that if they file for a Chapter 7 Bankruptcy, their debts simply goes away. The truth is you still may have to pay back the debt you owe.
Every state has its own rules regarding bankruptcy laws. If you are considering any type of bankruptcy protection, we strongly urge you to consult with an attorney in your state who specializes in bankruptcy procedures. You may not have the option of filing for Chapter 7 Bankruptcy protection if the courts determine that you make too much money. The courts may make you file a reorganization, or Chapter 13 Bankruptcy. So, instead of having your debt completely forgiven, the court where you live may force you into filing a Chapter 13 Bankruptcy.
Finally, if a creditor can legally prove that you were fraudulent in filing for bankruptcy and never had any intention of paying back your creditors, it is very possible that the court would rule in favor of the creditors and you would end up paying off all of your debt, anyway.
Again, it is highly recommended that you seek legal counsel from a bankruptcy attorney in your state of residence for specific legal advice.
Freedom Group, Inc. Has The Solution: Debt Reduction Through Negotiation!
- Debt settlement is a unique and cost-effective approach to eliminating your debts.
- We negotiate with creditors on your behalf to settle your debts.
- Typically pay back 30%-60% of the debt amount.
- Get out of debt in 12-36 months, not the lifetime payment plan your creditors prefer!
- SAVE MONEY, not only on your debt principal, but also saves you money on burdensome interest payments!
- Regain financial control now!
