Millions of people are suffering from overwhelming debt, but unlike big companies you aren't going to get a government bailout. Job loss, sickness and injury, and divorce are the most common causes of financial distress. You are not alone! It takes years to build your credit, but only weeks or months to destroy it. You can get help and relief, quickly. That option is bankruptcy.

At the Kalamazoo area firm of Jason Allen Law, we are dedicated to helping those who have been affected. We help our clients file Chapter 7 and Chapter 13 bankruptcies.

What Is Chapter 7 Bankruptcy? Chapter 7 is the discharge or wiping out of all unsecured debt. In most cases, you are able to keep everything that you own. Unsecured debts such as medical bills, repossessions, broken leases and credit cards are discharged. Filing your case will stop:

Wage garnishments Creditor harassment Paying your bills In determining your eligibility to file for bankruptcy we look at your income, expenses and assets. . If you are financially able to pay off some of your debt, or you are looking to save a house or car, you may have to file for Chapter 13. Let Jason Allen Law guide you through the process.

There is lots of misinformation out there about bankruptcy. Many people incorrectly believe that in a bankruptcy, they will lose all their belongings and assets. This is completely false. Most of our clients lose nothing in a Chapter 7 — they typically keep everything. On average, within 3 months, your credit score will improve, your credit will begin rebuilding and you may be able to apply for a car loan or credit card immediately. You may even be able to apply for a home loan just a two years after you file bankruptcy.

When faced with financial distress, it is a smart idea to speak with a financial attorney about your situation. You should always be proactive and take action before its too late; you can are garnished, or lose your home or car. Our experienced bankruptcy lawyers provide direct and practical legal solutions that you will benefit from.

Jason Allen Law is a law firm dedicated to helping people that focuses solely on individuals in financial hardship around Kalamazoo, Michigan. Our team of attorneys has handled over five thousand bankruptcies and is committed to providing honest and person legal advice that is tailored to meet the needs of your situation.

Debt Reorganization in Chapter 13 A Chapter 13 bankruptcy, allows your debts to be consolidated into one low monthly payment where you will probably only pay back 10% of your debt. This payment will typically last 5 years. When your payments are done, your debt will be gone. A Chapter 13 may be the right option for you if:

You are looking to save a home or vehicle from foreclosure or repossession Your main concern is taxes, child, support, or tickets You want to pay your debt back A chapter 13 will catch you up on your mortgage arrears, and if your are underwater on your house we can often get rid of your second mortgage.

Choose Chapter 13 vs. Debt Consolidation/Debt Settlements? Debt consolidators are everywhere and would have you think your solution lies with them. Sadly, a lot of them are scams and can do more damage than good to your credit. Debt consolidation has several drawbacks:

Tax consequences: Debt settled becomes taxable income to you Creditors are not forced by the law to accept your settlement Debt settlement takes years In all circumstances, debt settlement is more expensive than a bankruptcy Bankruptcy has no affect on your taxes at all, forces all creditors to participate, can be done in as little as 3 months and will often cost less than 5% of your total debt.