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Chapter 7 Bankruptcy Gives You A Fresh Start After A Job Loss

The state of the world’s economy is changing rapidly.  Millions of American workers have lost their jobs due to companies down-sizing, out-sourcing or even going out of business.  Many have been forced to take a part-time job, or make less than they used to in a full-time position.

Without A Decent Paycheck, It’s Impossible to Pay All Your Bills

For those who have lost their job, the financial situation just seems to be getting worse and worse.  The cost of groceries, gasoline, healthcare and the necessities of life have skyrocketed.  Foreclosure, repossession and wage garnishments have reached unprecedented levels.  For those living off credit cards, lending companies have accelerated payment due dates and raised interest rates, penalties, costs and fees.

Although we have seen improvement in the jobless rates in the past few months, economists are predicting the tough job market will continue for some time, possibly years.  And when you combine that with the poor housing market and steadily rising prices, bankruptcy could still be the best option for relieving the terrible stress for some families affected by the tough financial times.

Chapter 7 Fresh Start Bankruptcy Stops the Harassment

Most people want to pay their creditors.  But, sometimes life gets in the way.  With unforeseen hardships such as job loss, divorce, medical bills and other circumstances, sometimes repayment simply isn’t possible.  And that is why Congress created the Chapter 7 fresh start bankruptcy program.

With a few exceptions, filing a Chapter 7 fresh start bankruptcy may allow you to discharge or wipe out your unsecured debt, including medical bills, unsecured loans, credit card balances, apartment lease penalties and repo deficiencies.  Even certain income tax liabilities can be discharged without paying anything.

As soon as you file Chapter 7 bankruptcy, your creditors are immediately stopped by court order from any collection activity.   They cannot legally call you, harass you, write you nasty letters, sue you or do anything else for the purpose of collecting money from you.  Once the court grants you a discharge, your debts are wiped out, and your creditors are permanently prohibited from contacting  you.

Contact Us Today

Don’t let a job loss and financial problems ruin your life and that of your family.   There is a solution to this stressful situation.  Through Chapter 7 fresh start bankruptcy or Chapter 13 bill consolidation bankruptcy, we can help you end your financial nightmare and put you back on the road to becoming debt free.

Call Robert Raley Bankruptcy Attorney today at 318-747-2230 or set up an appointment by visiting our contact page.