* BANKRUPTCY * 

CAUSES  &  MYTHS ...

" Buy Now, Pay Later ! " It is the slogan and marketing strategy of countless retailers and credit card companies . It is also a way in which millions of Americans develop serious debt problems .

Unlike most industries , credit card companies consider their most valuable customers to be those that carry balances on their accounts . The higher the balance , the more it costs the borrower ( at interest rates which are often 2-3 times that of conventional loans ) and the more the credit card company makes .

In addition to problems caused by overly aggressive lenders , many people have difficulty making ends meet for a variety of other reasons . Loss of employment , illness , injury , increases in expenses , and other unforeseen circumstances can all lead to late payments and unpaid bills . Between interest , late fees , assessments , and repeated telephone calls at both home and work from bill collectors , an already stressful situation can become unbearable . That is why many people turn to the law for help , by applying for protection under the U.S. Bankruptcy Code .

As there are several forms of Bankruptcy and countless legal provisions , forms , and rules , a person considering this option should consult with a qualified professional . People are often afraid to take this step due to several popular misconceptions about bankruptcy .

A common belief is that filing for bankruptcy leads to the loss of one’s home or vehicle . Others are afraid that they will never be able to reestablish their credit or qualify for future loans . Some people are worried that their friends or family members will find out or that their jobs will be jeopardized . While every rule has exceptions , these ideas are for the most part , more myth than fact . It is extremely rare that one of our clients loses a home or car by filing bankruptcy . It is even more rare that friends , neighbors , or family discover that you’re filing unless you tell them .

Remember, Bankruptcy laws were developed to protect you , your family , and your assets . While most people truly would like to pay off all of their debts , financial survival must remain a priority . Utilize the Bankruptcy Code and Bankruptcy Court , which you help to support through your tax dollars , assist you through this rough time . Let one of our experienced consultants provide you with a free counseling session *, and help you determine the program that best fits your families needs and begin working towards financial independence .

Click on the Links Below to find our more
about these different Types of Bankruptcy ...

* In North Carolina , we can offer credit counseling and referrals , but not legal advice .

The content of this website is not meant to constitute legal advice in any jurisdiction . A licensed attorney in your state should be consulted before filing any form of Bankruptcy .

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