Presentation on theme: "Devin shumake. Should be considered if your one the things below describes the issue your in Heavily in debt Threats of foreclosure Drop in income."— Presentation transcript:
Should be considered if your one the things below describes the issue your in Heavily in debt Threats of foreclosure Drop in income Difficulty paying bills Insufficient income Loss of income due to a disability or divorce
Give you a fresh new start. Get rid of some previous bills Let you rebuild your credit
Give you more privacy Help you keep valued possessions Closed bank accounts Help get you a mortgage
Depending on situation of the bankruptcy you still may be able to keep your property.
The law requires that before you file you receive proper education from a financial counselor.
Can start rebuilding your credit Discharge some bills such as: credit card, medical, loans, and judgments based on car accidents
Loss of privacy Loss of valued objects or people Closed bank accounts Loss of luxury possessions Hard time getting a mortgage
They add additional charges to credit card Transfer there property out of their name Cash in retirement accounts Ignore pending law suits Treat some creditors better than others