As the year comes to the end, many things come into focus. Many will look back on how the year was for them, but for others in New Hampshire and elsewhere, their financial situation is the most pressing issue. It may have been a year of medical problems, resulting in growing medical bills. An individual may have lost a job or a loved one. The year could have brought the birth of a child, but with it, many unexpected costs. No matter the cause, when debt becomes overwhelming, individuals and families should understand how they could resolve their debt problems.
At the Law Office of Paul Petrillo, our legal team understands that there are solutions to any debt problem. Being bombarded by bill collectors can make an already difficult time more challenging. And as a means to give an individual peace from these calls and a piece of mind, our law firm is available to help debtors explore their options when it comes to filing for bankruptcy.
Filing for a Chapter 7 bankruptcy may be the best debt relief option, and our law firm can help our clients make this assessment. This type of bankruptcy discharges debts. It is known as a liquidation bankruptcy, as it wipes out unsecured debts. This means that a debtor could get rid of credit card debt, medical bills, utility bills, personal loans, some judgments and back taxes and even mortgage arrears if one is willing to surrender their house. It is important to note that this bankruptcy process does not discharge certain debts such as student loans, child support, recent taxes or criminal fines.
To learn more, check out our law firm’s Chapter 7 bankruptcy page. Debt can be very overwhelming, making it challenging to see any way through this difficult time. However, it is not impossible to work through these financial problems, obtaining a fresh financial start through the bankruptcy process.