Experienced Attorneys

Client First Bankruptcy employs experienced lawyers who will advise you during every step of your bankruptcy. Find out how we can help you achieve a more secure financial future.
Phone us toll-free at 800-383-6004 to speak with a representative now.

Superior Service

Client First Bankruptcy is committed to offering the best possible legal representation for your bankruptcy. Our expert attorneys have counseled over 10,000 consumers in regards to bankruptcy filing.
Call us toll-free at 800-383-6004 today.

Affordable Price

With as little as $100 down and flexible fee payment programs, you can speak with an experienced bankruptcy attorney from Client First Bankruptcy. Don’t spend another day struggling with finances; phone us toll-free at 800-383-6004 for bankruptcy information you can trust.

Advantages of Bankruptcy

Advantages to Filing Bankruptcy The first thing to know is the difference between Chapter 7 bankruptcy, which is known as “straightforward liquidation”, in which most of your belongings are sold with the proceeds used to pay off your creditors, and Chapter 13 bankruptcy. Chapter 13 is often called, “reorganization” since, under strict guidelines, you are allowed three-to-five years to repay your creditors under a court-approved debt repayment plan. When you file Chapter 7 or Chapter 13 bankruptcy, there is an “automatic stay”, meaning that creditors must cease all collection efforts. The Fair Debt Collection Practices Act was established to eliminate abusive practices in the collection of consumer debts, promote fair debt collection practices and provide consumers with a way to dispute and obtain validation of debt information to ensure the accuracy of reported information. In addition, the bankruptcy process is normally quite fast, usually taking less than a year to complete. You will then be able to start rebuilding your credit and start over with a financial clean slate. Of course, it is up to you to keep spending under control to ensure that you do not, again, end up with crushing debt. You will not be allowed to enter another bankruptcy for a number of years, depending upon the chapter you have filed. It is true that filing for bankruptcy has a negative impact on your credit score and remains on your credit report for seven-to-ten years. However, incurring additional debt, facing ongoing harassment from debt collectors and potential lawsuits from creditors can be pretty devastating to you and your family. Filing Chapter 13 or Chapter 7 bankruptcy will allow you to start rebuilding your credit in an organized fashion. Depending upon the bankruptcy chapter that you file, Chapter 7 or Chapter 13, you will be allowed to keep some of your property including life insurance, personal household goods, part of your wages and, in some cases, a vehicle and even your home. Disadvantages to Filing Bankruptcy The most obvious disadvantage of filing for bankruptcy is that it will have a negative impact on your credit for seven-to-ten years. Other disadvantages include:
  • Loss of credit cards
  • Loss of most non-essential possessions
  • Inability to obtain a mortgage and/or other loans for a period of time
  • Tax refunds may be denied
  • Some employers may view your bankruptcy in a negative light, especially if you are employed in the financial field or public arena
  • Forbidden from being a director for limited liability companies
  • Not all debt will be discharged
Some debt may not be discharged by a bankruptcy filing, including:
  • Child support, alimony payments and spousal maintenance as well as other debts resulting from divorce settlement agreements or divorce decrees
  • Student loans, except in certain exceptional circumstances
  • Income taxes that are less than three years past due
  • Court fines
  • DUI judgments against the debtor
  • Debts incurred by fraudulent means, such as writing a bad check or providing false information on a credit application
Bankruptcy can be a complicated process. You need a bankruptcy lawyer with extensive experience and a national reputation for excellence in the representation of debtors in financial distress. Call Client First Bankruptcy toll-free at 800-383-6004, today.