Bankruptcy - Is There Another Way?

Filing bankruptcy can help a person by eliminating debt or creating a plan to repay debts. A bankruptcy case normally starts when the debtor files a petition with the bankruptcy court. A petition may be filed by an individual, by spouses together, or by a corporation or other entity. There are so many types of bankruptcy including Chapter 7, Chapter 11 and Chapter 13. If you are considering filing bankruptcy I would recommend you consult a bankruptcy lawyer to ensure you understand the process and the implications. A good Bankruptcy Attorney can help you decide if bankruptcy is your best option.

Is there another way? Possibly! In a lot of cases you may have enough equity in your home to reduce your debt and move on to the next page of your life. The first step would be to consult a Real Estate Agent or Broker to evaluate your property. Typically you will get the most out of your house if you expose it to the market through a Licensed agent. In some cases you may need to move faster than the standard Real Estate Sales process and a company that purchases houses with cash may be the best option.

Often they can make a fast purchase of your property to get you out from under the weight of a troublesome situation and proceed as fast or slow as you want to give you the opportunity to move out in a time frame that is comfortable for you! Their service provides for a fast sale of your home without any of the hassles of dealing with financially unqualified “For Sale by Owner” buyers and other conventional methods that will prevent you from selling your house quickly. Typically the offers are simple, straightforward and eliminate much of the work of selling your home through the traditional real estate selling process.

Filing Bankruptcy should be your last resort and investigating all your options with a qualified Bankruptcy attorney is the best way to start the process.