This was the year when the unthinkable happened. You were barely keeping your head above water and then your husband had to miss two weeks of work after an injury. And while you thought that the workers compensation insurance would fill in the gaps, too little money came in too late. You missed two house payments, two car payments, and a total of three car loan payments.
You struggled as best you could to play catch up, but in the end you saw no real option except to contact a low cost bankruptcy attorney and explore your options. Never in your life would you have imagined that you would be one of the families that filed for bankruptcy, but it eventually became the only option.
As more and more Americans deal with the rising costs of housing, fuel, and food, there are many times when people find themselves at a complete loss. With the help of a low cost bankruptcy attorney, however, you can explore the options that might allow you to erase the debt that you have and begin again with a fresh start.
Bankruptcy Law Firms Can Sometimes Find Debt Relief Options to Their Clients
Life can be full of many challenges, but if you find yourself looking for a way to dig yourself out of some pretty serious money issues then you may actually need to get some legal advice. Depending on whether your problems are personal or business related, there are different kinds of options that are available to you. For instance, bankruptcies resulting from unpaid medical bills affected an estimated 2 million people in the U.S. during the year 2013. Knowing that this is the case, there are a number of legal teams who offer specific kinds of advice for people in these situations.
Consider some of these other facts and figures about the kind of bankruptcies that most often are filed in America:
- A Chapter 7 bankruptcy typically takes as long as six months to complete.
- Even after it is arranged, a Chapter 7 bankruptcy stays on your credit report for 10 years.
- Although the numbers can vary from one state to another, in Texas, Chapter 13 filing often costs less than $500 to begin a case.
- There were a total of 8,980 Chapter 11 bankruptcies filed in the U.S. during the year 2013.
- There were a total of 333,626 Chapter 13 bankruptcies filed in the U.S. during the year 2013.