Many people are afraid of what a bankruptcy filing will do to their credit rating. Although they face massive credit card debt, late charges, accrual of interest, and fees, they try to manage the situation-but they really can’t. At a certain point, financial problems are just too overwhelming to get out from under without professional help.
If you’re ready to look at your options and to get the facts about bankruptcy, contact the bankruptcy attorneys at Damon, Ver Merris, Boyko & Witte, PLC. We can help you understand your options for getting out of debt and back on your feet financially.
At Damon, Ver Merris, Boyko & Witte, PLC, we don’t automatically assume that bankruptcy is your only or best option. Your financial situation and life circumstances are unique so we take time to understand your situation so we can advise you on all the viable options available to you, including non-bankruptcy and work-out options. Our bankruptcy lawyers may be able to negotiate with your creditors to get you on installment payments, reduce the amount you owe, reduce your interest rate(s), or possibly eliminate a second mortgage on your home. Let us look at your situation and see what we can do.
What Chapter 13 Bankruptcy Can Do for You
Chapter 13 bankruptcy will restructure your existing debt. It can reduce or eliminate your credit card debt and other obligations. It will likely eliminate most installment payments. It will extend the time you have to make payments so your payments are lower (sometimes drastically lower). Under a Chapter 13 bankruptcy, your debts will be paid back to the extent possible within 3 to 5 years, and your credit will be rebuilt. You will find yourself back on solid financial ground. Home mortgage deficiencies can be cured, over time, foreclosures stopped, and second and third mortgages “stripped off” if there is no equity in the property to support them.
Honest Advice, Realistic Legal Help
If you simply do not have enough income to pay back even a small amount of debt because of a job loss or medical problems, Chapter 7 bankruptcy may be the better choice for you. Learn more about Chapter 7. You do not need to struggle with overwhelming debt. Talk with an experienced bankruptcy lawyer at Damon, Ver Merris, Boyko & Witte, PLC today. Get honest, straightforward advice about all your options. You can begin the process of rebuilding your credit rating and your financial life.
Damon, Ver Merris, Boyko & Witte, PLC
825 Parchment Drive S.E. Suite 100, Grand Rapids, MI 49546-2382