Are you in over your head in debt? Are creditors calling demanding payments that you can not make? Has a divorce, job loss or unexpected medical bills made it impossible for you to meet your monthly financial obligations? If so, bankruptcy may be an option to give you the fresh start you need.
We realize filing bankruptcy is a tough decision to make. You want to pay your debts but circumstances beyond your control have made that impossible. Waits & Witteman, LLC can help you make an informed decision about whether you will benefit from filing a bankruptcy action. We realize bad things sometimes happen to good people and we are here to help.
Individuals normally file either a Chapter 7 or a Chapter 13 bankruptcy action.
Chapter 7 – This is commonly referred to as a liquidation bankruptcy. In a Chapter 7 bankruptcy action most people are able to keep their home, cars, household goods, retirement accounts and other personal assets. However most unsecured debts are discharged. This means you no longer legally owe unsecured debts such as credit cards, medical bills, etc. There are eligibility requirements for a Chapter 7 bankruptcy case.
Chapter 13 – This is commonly referred to as a reorganization bankruptcy where all or a portion of the debt is paid off through a 3 to 5 year repayment plan. A regular income to fund a Chapter 13 reorganization plan is required.
Waits & Witteman, LLC will meet with you to determine if a bankruptcy action is the best course of action for your personal situation.
Waits & Witteman, LLC is a debt relief agency. We help people file for bankruptcy relief under the United States Bankruptcy Code