[The Law office of Malik W. Ahmad www.fastbankruptcynevada.com provides free bankruptcy consultation to all of our clients at this time. An immediate request can be made by calling (702) 270-9100. Most of the time, same day appointments can be made with our law office.]
We all know our attraction and of course, if I may say, addiction to credit cards–commonly called plastic. We use them all the time, and even though the economy is in deep recession, still get few offers in the mail every now and then. Many times my clients bring these offers and shows us with beaming eyes like they had found a fortune again. Of course we are swamped with credit cards debt as a nation. This debt is affecting our family and life style. We like to catch up with them, but over 23 million Americans now can’t make more than the minimum payment on their credit cards. Nearly half of all credit card holders missed at least one payment in 2008. We all are worried how to catch up with the ever rising interest rate. In fact, a time would soon come when the credit card rate would match the pay-day loan interest.
Well, you have one choice, and if you qualify income wise, the best approach is either to combine your debt, or if that is not possible or attractive enough, file chapter 7 bankruptcies. It is nothing to be embarrassing because this right is granted to you under the bankruptcy laws of the United States. You are not alone in this situation but would find plenty of company in this matter. When you file a Chapter 7 bankruptcy an automatic stay is put in place and your creditors won’t be able to harass you anymore. An automatic stay would stop all the phone calls once you file bankruptcy. This will relieve a lot of stress by stopping all of the phone calls. After the bankruptcy is finished all your unsecured debts will be wiped out and you will have a fresh start being debt free to get on with your life.
Chapter 7 bankruptcy is also known as liquidation, a term which some may find misleading, when in fact, it’s extremely rare that a consumer loses any personal belongings. During a Chapter 7 bankruptcy case, a bankruptcy trustee has the option of liquidating or selling your nonexempt assets in order to pay off some of your outstanding bills. The good news is that most people who file Chapter 7 bankruptcy do not have any nonexempt assets, and there is usually no liquidation or sale of property. Filing bankruptcy is certainly not a process that should ever be rushed into, and one that is not at all easy. It is good to talk to knowledgeable attorneys in this regard instead of the documentation preparer. If you’re in a situation where you can’t make the minimum payments on your credit cards each month, along with your house payment or rent, you probably qualify and need to file bankruptcy.
Law office of Malik Ahmad is one such credible source of providing free bankruptcy information. Please call and set up a free consultation to help you get over this depressed state of affairs and see the feasibility of filing a bankruptcy and liquidating all of your debts for a fresh start. Our phone number is (702) 270-9100.