The Time is Now…

Here we are.  New year.  If you are like me you look back and evaluate whether or not you met last year’s goals.  And if you are like me you didn’t reach some of your goals.  If you are still dealing with the same debt you had last year – which is likely much larger than it was last year – the time to deal with your debt problem is now.

Don’t go another year bearing the weight of overwhelming debt.  I know you don’t want to file bankruptcy.  Nobody does.  But you need to look at it for what it is.  A tool.  A tool that will allow you to start again and finally eliminate your debts.

How Long Will My Bankruptcy Last?

If you are like most people that file for bankruptcy you will file a chapter 7 bankruptcy case.  In Arizona, the typical chapter 7 bankruptcy case lasts about 4 to 5 months.  Specifically, from the day your case is filed with the court you can expect to have your judge sign off on the discharge order that eliminates your debts in about five months.

Will I Really be Debt Free?

For the most part, yes.  In a chapter 7 bankruptcy all of your credit card debt, medical bills, and most unsecured debts are completely eliminated.  Most taxes and student loans are not discharged.

Secured debts like your car loans and home loans still remain unless you decide to surrender the car or house back to the bank.

So, what it boils down to is after your bankruptcy case is over you will be able to eliminate the debts you want, like  your credit card debts, and keep the debts you need to, like your mortgage or car loan.

Will 2013 finally be the year that you become debt free?