Imagine that after graduating from college, you find a job that makes you proud and allows you to live the life you’ve always wanted. As the months and years pass, you keep saving to make a big purchase, such as putting a down payment on a house. But suddenly, it all comes crashing down. You get into a car accident and have to pay thousands of dollars to deal with it. You suffer a medical emergency soon after, embroiling you in medical debt. And on top of it all, the credit card debt that you usually pay off on time is now too much for you to handle.
In the matter of weeks, your entire world is turned upside down and you are deep in debt. It is usually a series of unfortunate events such as this that get someone deep into debt with seemingly no way out.
However, there is always a way out. For many, this means filing for Chapter 7 or Chapter 13 bankruptcy. These forms of bankruptcy allow you to discharge many of your debts, though the processes are a little different for each one.
After you file, you will have a meeting with a court-appointed trustee roughly a month after your filing date. You can have attorney with you for this meeting, and at Michael D. Hart, we relish the opportunity to protect the rights of people who are going through bankruptcy. Ultimately, about 30-90 days after your meeting with a court-appointed trustee, your Chapter 13 plan will be confirmed or your debts will be wiped clean with a Chapter 7 filing.