Personal Bankruptcy

Filing for bankruptcy is a serious decision that may impact your finances for many years. Before taking such a big step, it is important to consult with a qualified bankruptcy lawyer.

Attorney Dawn Garcia can help you understand the differences between the two options for filing personal bankruptcy and make the best decision for your situation. Briefly—

• Chapter 7  Often called the Fresh Start option, Chapter 7 bankruptcy allows you to wipe out credit card charges, medical bills, and other qualified debt. In exchange, you give up your ability to borrow on credit for several years. In addition, if you own valuable possessions, such as home with a large amount of equity or vehicles, jewelry, art, or other items of worth, the court may order them sold off to pay your creditors. Retaining bankruptcy attorney Dawn Garcia can help you several ways. She can—
  • Guide your filing, making sure you have included all dischargeable debts
  • Make sure you meet deadlines for follow-up paperwork and hearings
  • Help you retain your home, vehicles, and other personal possessions that may be at risk
• Chapter 13  The payment plan option, Chapter 13 works for people with a steady income who are capable of making negotiated payments over three to five years to eliminate their debt. Choosing this option allows you to keep all of your personal possessions as long as you continue to make payments on time. Attorney Dawn Garcia can help you work with a court appointed trustee to:
  • Negotiate with creditors to decrease the amounts owed
  • Eliminate late fees, penalties, and high interest charges
  • Work out a realistic payment plan that allows you meet your current financial obligations without incurring further debt
  • File an appeal with the court to modify your payment plan if your circumstances change

Dawn analyzes your finances and credit history and recommends the best course of action for your personal financial situation and then helps you implement it.

Bring this documentation with you

To make the most of your time during your initial meeting with Dawn Garcia, bring as many of these documents with you as are available:

• Last three years of your tax returns
• Six months of paystubs or other proof of income
• All correspondence from creditors including bills and letters
• Credit reports from all three credit bureaus. You may obtain these free online once per year at AnnualCreditReport.com

For more information, see Personal Bankruptcy Frequently Asked Questions.