What is Bankruptcy?
Bankruptcy is a legal proceeding in which a person who cannot pay all of his or her bills can obtain protection from creditors and eliminate his or her debts in whole or in part. Bankruptcy is provided for in the Constitution of the United States. The ability to file bankruptcy is established by federal law, and all bankruptcy cases are handled in federal court.
Stop Creditor Harassment
Filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you.
Eliminate Wage Garnishments
Filing bankruptcy eliminates wage garnishments and bank account attachment.
Filing bankruptcy stops repossession of a car, truck or other property.
Don't lose the life you've spent years building, keep your things.
Filing for bankruptcy protection is an important financial and legal decision.
Chances are that you are like the overwhelming majority of people who work hard to keep their promises and pay their debts; needing to obtain a “fresh start” by filing bankruptcy may feel immoral or possibly even “illegal”. However, debt forgiveness is an important part of our western heritage, and bankruptcy is a basic privilege granted to us by the U.S Constitution.
The concept of debt forgiveness is as old as the bible. Deuteronomy 15:1-2 states: “At the end of every seven-year period you shall have a relaxation of debts, which shall be observed as follows. Every creditor shall relax his claim on what he has loaned his neighbor; he must not press his neighbor, his kinsman, because a relaxation in honor of the LORD has been proclaimed.”
The ability to file for bankruptcy protection is firmly rooted in the United States Constitution.
Article 1, Section 8, which enumerates the powers granted to Congress, gives Congress the power “[t]o establish . . . uniform Laws on the subject of Bankruptcies throughout the United States.” Bankruptcy is the legal forum that is specifically created to balance the rights of creditors with the need to protect debtors. The establishment of bankruptcy was a cornerstone in the realization of this belief in economic fairness.
As a practical matter, a person’s need to file bankruptcy may be determined by the financial events that are taking place in his or her life. The bankruptcy test below consists of a series of “yes” or “no” questions that may assist in determining whether bankruptcy is right for you. While the “test” is not definitive, if you answer “yes” to two or more of the questions, please contact us to learn about the protections and benefits that bankruptcy can offer you.