Is bankruptcy the right call for me?
Deciding to file bankruptcy is an intensely personal decision. We are here to tell you that you can make that decision with all the information and all the education you need to feel confident. You can do that by scheduling a free consultation where you can go over your financial situation in detail with an attorney.
One of the first things you need to know about bankruptcy: it’s not the amount of debt you have, it’s what that debt is doing to you that matters. We’ve helped businesses with huge liabilities, and we’ve helped individuals with relatively very small debts. All of these people were drowning in their debt. They saw no way out. Their future was bleak and they needed help. Sound familiar? We are here for you!
Looking for a helpful list of when bankruptcy is a good option? Visit our Bankruptcy page, where we go over scenarios in which you should call us. These include garnishments, repossessions and just plain hopelessness.
Bankruptcy may not be your best option if…
Some people who are overwhelmed by debt may not need to file bankruptcy. If your sole source of income is social security or other exempt funds such as VA Benefits or a pension, you may not need to file bankruptcy to be protected from garnishment. Debtors who have no significant assets and who’s sole source of income is derived from funds which are protected by law may not need bankruptcy protection.
These folks are referred to as judgment proof. That means even if a creditor has obtained a judgment and has available to them all the powers of a judgment creditor, they may not be able to garnish or seize your assets. If you qualify as judgement proof, bankruptcy isn’t the right answer for you. We can help you consider alternatives to ensuring a bright financial future.
Calling us is definitely the right call.
The rules that dictate which assets are exempt and what actions a creditor can take are complex. You should speak with an attorney regarding your particular case. Rank & Associates, P.C. has been advising clients regarding their bankruptcy options for over 25 years. Contact us for your free consultation where we can establish whether bankruptcy is really the right option for you. If we can find an easier way for you we will, because we pledge to do what’s right by our clients, not just for our business.
Not sure what the bankruptcy process looks like or how to get started? Let us help!
We get it – you’re scared and overwhelmed and probably have been for some time. With us on your team you don’t have to be worried and stressed any more. We’ll work to make sure you’re well educated and well prepared for what lies ahead. See what the process looks like by clicking here, or even get started right away by following the instructions you’ll find here. Then you’re well on your way!