If you’re reading this, it’s because you’re in financial trouble and need help fast to get your credit card and other debt under control. In recent years, the number of bankruptcy filings has doubled due to the state of our economy. Millions of hard-working Americans have been fired from their jobs, had their wages reduced, or faced financial hardship due to a medical condition. Whatever your situation, you should know that you are not alone and that this process is simpler than you think. This short article will discuss filing bankruptcy and provide information before you meet with an attorney.

First of all, what you need to know is that there are two types of bankruptcy filings: Chapter 7 and Chapter 13. The first type helps you get rid of all your unsecured debts after receiving a court discharge. This gives you a complete fresh start and once you file, puts an end to harassing calls from creditors, foreclosures, or threats to garnish your wages or repossess your car and other property.

A Chapter 13 or Earners bankruptcy is a court-ordered payment plan in which the judge determines a payment plan for you to pay off your debt. This depends on how much money you have left after all your living expenses are covered. Check with your attorney about the requirements you must meet to file for Chapter 13. This repayment plan can be 36 or 60 months, depending on your individual circumstances.

The best way to get answers to all your bankruptcy questions is to sit down with a bankruptcy attorney in your area and he or she will help you determine your best options. Most law firms specializing in this type of law will offer you a free consultation. In other words, you have nothing to lose and everything to gain. Don’t let your debt get out of hand and talk to an expert and find out how to file for bankruptcy.