Bankruptcy is a financial decision, not a reflection of you as a person. Sometimes debts can simply become overwhelming, placing huge stress on both families and individuals alike. Given the economic climate and faced with the facts of declining wages, layoffs, and the massive cost of medical care, you may have few options to stop the downward spiral of borrowing and debt.

Bankruptcy should be considered as one option for possible debt relief and a fresh start toward a less stressful and more rewarding financial future.

Here at The Law Offices of Christopher G. O’Brien, P.A., we handle the two main forms of consumer bankruptcy, Chapter 7 and Chapter 13.

Although our FAQ page can provide you with more comprehensive and in-depth answers to your bankruptcy questions, these two Chapters in brief are:

  • Chapter 7:

  • Discharges or eliminates most unsecured debts, such as credit cards, personal loans, and medical debt
  • May allow you to keep your home in most cases, or get out from “underwater” mortgages
  • Stops collection calls and foreclosure
  • Allows you to get a “fresh start” and move toward regaining and improving your credit.
  • May permit “lien stripping” of a second or subsequent mortgage in some cases, leaving you with only the first mortgage
  • Chapter 13:

  • Reorganizes debt
  • Allows you to keep your home, even if you haven’t been paying your mortgage by letting you make up the “arrearage” in the Chapter 13 repayment plan
  • Stops collection calls and foreclosure
  • May permit “stripping” of a second mortgage in some cases, leaving you with only the first mortgage.

Visit our FAQ page to learn more about the benefits of declaring bankruptcy.

Call Christopher O’Brien at (239) 337-0448 to schedule a free consultation to discuss your financial situation and find out if a bankruptcy can help you get a fresh start.