Bankruptcy Lawyers & Attorneys Nationwide

Don't get down about growing past due balances or creditors calling at all hours, credit card debt or overdue medical bills. If you take immediate action, you can get help before it's too late! You may qualify for protection under the U.S. Bankruptcy Code, and filing bankruptcy may help you regain control of your financial future.

There are two main options offered by the U.S. Bankruptcy Code for people in financial crises. For some, filing Chapter 7 bankruptcy offers the opportunity to discharge unsecured debts and get started on the path back to financial stability. For others, filing Chapter 13 bankruptcy allows the repayment of secured debts like their mortgage debt over time.

You should know that filing bankruptcy is just one among many options for recovering from financial setbacks. In order to make the best decision for your situation and future, you need to educate yourself about all your options for filing bankruptcy and then take action as soon as possible. At DebtRelief.us.com, you will find hundreds of pages of bankruptcy information that you can use as a resource for learning more about the U.S. Bankruptcy Code and your legal options.

Despite our many informational resources on filing bankruptcy, there is no substitute for the advice and guidance of an experienced debt relief professional. We provide a fast and easy way to find a debt relief professional in your area. Our bankruptcy and debt relief partners can help you find an objective point of view on your current financial situation, separate the differences between Chapter 7 bankruptcy and Chapter 13 bankruptcy, and help you move confidently forward as you make your next move, whether that does or does not include filing bankruptcy.

It’s a common misconception that all debt relief programs are the same. The media tends to lump them all together, but the difference between programs and which one will best suit your personal needs is great. Being knowledgeable about the various debt relief options available to you can make all the difference in successfully seeking debt-free financial security, which is why we created a website to help make sure you are taking steps in the right direction.

Debt Settlement - Also known as Debt Negotiation, Debt Settlement is the quickest most inexpensive way to get out of debt. This debt relief program doesn’t mess around- the most aggressive way to directly rid yourself of debt, it is your most viable option if you have seriously considered declaring bankruptcy...Debt Settlement continued

Bankruptcy - Bankruptcy should be avoided at all costs. Filing for bankruptcy can have lasting negative consequences may tarnish your financial history for up to 10 years in some states. Additionally, recent regulatory changes have made it even harder to start fresh after filing for bankruptcy... Bankruptcy continued

Debt Consolidation - Also known as a Consolidation Loan, this program works to merge multiple loans into a single, more manageable loan. The benefits of reducing to a single loan payment can include lower monthly payments over a longer period of time. Important to note, however, are the recent changes in credit markets which have resulted in tighter regulations. This is especially important if you have a low credit score, as loan options are limited for people with FICO credit scores less than 660... Debt Consolidation continued

Credit Counseling - Companies that offer these ‘nonprofit counseling programs’ charge you a fee for working with your creditors to reduce both your current interest rates and your minimum monthly payments. Recently, however, they have been critiqued for being mislabelled as a nonprofit organization....Credit Counseling continued

Do Nothing - If you have fallen deep into debt and are struggling to keep yourself afloat financially, the worst thing you could do would be to do nothing at all. If you have found your way to this website, it means that it’s time to take control of your debts and get out of financial trouble. The good news is that you don’t have to deal with this alone. We want you to know that relief from debt is available, and seeking help from a debt management professional is the first step in the right direction... Do Nothing continued

The most immediate effect felt by filing bankruptcy is the automatic stay. After filing bankruptcy protection, the automatic stay immediately stops most creditors from contacting you and collecting on debts. And the relief doesn't end there! The automatic stay also prevents garnishment, lawsuits, and repossession (including foreclosure).

Perhaps the most comforting part is, if a creditor should decide to ignore the automatic stay and continue hassling you, he will face serious consequences. For more on how the automatic stay works after filing bankruptcy, continue reading at DebtRelief.us.com or request information from a bankruptcy and debt relief professional.

Recent government legislation intended to protect consumers from unfair harassment (the Fair Debt Collections Practices Act), greatly limits collection agencies’ contact with consumers. Depending upon the state, there are regulations specifying when and how often collection agents can call, and, if the agency’s informed in writing that the borrower no longer wishes to be bothered, they’ll be legally restrained from any attempts. Furthermore, once the borrower begins working with debt relief companies, the debt collector will be forced to submit all correspondence to the settlement professional. FDCPA regulations force collection agencies to speak with whomever holds power of attorney within debt negotiations.

There’s no easy answer, but borrowers with elevated debt-to-income ratios certainly have a greater likelihood of immediate assistance. The probability of successful debt relief negotiations varies dramatically based upon the borrower’s home state, the specific debts accrued, and credit activity within the past year. Also, those debtors who have suffered recent accidents or injuries, underwent medical procedures, faced unexpected and/or lingering unemployment, underwent divorce, or went through any life-altering trauma that forced sudden dependence should expect creditors to look upon their situation with greater understanding.

Every borrower’s situation is different, but there are indications that drive most consumers to consider debt relief: sudden or lingering unemployment; health problems, sleeplessness, or familial conflicts due to mounting bills; inability to start new credit accounts; bounced checks or continually overdrawn bank accounts; regularly withdrawing cash advances from a credit card to pay minimum payments on other cards; all cards are nearing maximum balances; minimal or non-existent savings; utilizing credit for household purchases or utilities. Obviously, accounts sent to collection and harassment from debt collectors should be an immediate signal that there’s a problem. As a rule of thumb, if your debt-to-income or DTI ratio of unsecured debt reaches twenty-five percent, there’s likely a problem, and, if you have no idea as to your actual balances because you've been avoiding the statements, it’s time to speak with a debt relief company.