Chapter 7

It can take a long time for people to realize they are in over their head with debt.  It often happens gradually. The bills may be growing, but you are able to stay above water until something happens.  Someone loses his or her job. A major medical expense occurs.  Seasonal layoffs cause you to fall behind.  Divorce results in increased expense and accumulation of attorney’s fees.  Whatever the situation, it pushes your household finances over the edge.

Of particular concern are the frequent instances when people wait too long.  People don’t wish to file bankruptcy.  They often try to avoid it by depleting retirement accounts, taking second mortgages or refinancing their home, or selling cherished items.  Before you do that, please allow an experienced bankruptcy attorney to listen to your circumstances and offer you advice.  You usually can keep your home, all of the equity you have build, and keep your retirement accounts, while managing or eliminating debt.

We frequently hear comments such as “I’m tired of working hard and going backwards.” People feel like they are borrowing from one creditor to pay another, or worse yet, use up equity on their home or deplete the retirement assets they worked hard to save to make payments on debt.

No matter how your overwhelming debt situation came to be, you can take action to improve your situation, and put an end to the constant harassment of unscrupulous creditors and collection agencies.

Begin by educating yourself about your options.  CHAPTER 7 BANKRUPTCY IS A POWERFUL TOOL THAT CAN LIQUIDATE UNSECURED DEBTS SUCH AS:

  • Credit cards
  • Medical bills
  • Personal loans
  • Business debt
  • Some tax debt
  • Unwanted vehicle loans and leases
  • Other debt

In many cases, we can help eliminate second mortgages for a fraction of the amount actually owed.

People frequently  ask us questions such as:

  • “will I lose my house?”              The answer usually is “No, you can keep it.”
  • “Will I lose my car?”                  Not unless you want to.
  • “Can I keep my pension, 401(k), IRA, 403(b)?”             Yes (IRA might have some limitations depending on your circumstances.)

At Aho Law Office, P.A., we will work with you to educate you about all of the options for dealing with your difficult debt situation. If Chapter 7 bankruptcy is the right fit for you circumstances, we will work to ensure that you receive the maximum possible benefit from filing for bankruptcy protection. We will look at your assets, income, and current and potential future expenses (for example, medical bills) in order to secure the most effective debt relief possible for you.

We are a debt relief agency.  We help people file for bankruptcy relief under the Bankruptcy Code.

If you are facing the challenges of excessive debt, we can educate you about the benefits of Chapter 7 bankruptcy. Let Attorney, Brian Aho, work to help you get the fresh start you need.  To schedule a free initial consultation, call (612) 271-4047 or simply contact us online.