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The following information is general and does not necessarily apply to your individual situation. Only an individualized consult with Jill Creech Bauer can determine what your personal options are.
DO NOT LIQUIDATE YOUR RETIREMENT ACCOUNTS! Being in debt and unable to maintain bills and payments is extremely stressful. Being harassed by creditors can cause people to make decisions to deplete assets that are unnecessary. Jill Creech Bauer has had many clients who have made the decision to liquidate a retirement account, thinking that maybe it would be enough to eliminate debt, only to have those same clients end up needing to file bankruptcy after their 401(k) account is gone. Liquidating a 401(k) can have devastating tax consequences that, more often than not, cannot be eliminated in bankruptcy, so people end up losing this asset to creditors, ultimately filing bankruptcy, and then having to pay off the IRS. You can save all of your retirement assets in bankruptcy, so it is wise to explore your bankruptcy options before you cash in your 401!
EMERGENCY BANKRUPTCYS CAN BE FILED WITHIN A DAY TO STOP A GARNISHMENT, REPOSSESSION, AND SHERIFF’S SALE OR UTILITY SHUT OFF! If you are facing an urgent matter, an emergency bankruptcy can be filed to stop the harmful action from occurring and give you time to figure out your options. However, you must complete an on-line credit counseling program and obtain a certificate before the emergency petition can be filed. If you need to file an emergency petition, please go to www.ccadvising.com or another approved agency and get your certificate today.
YOU MAY BE ENTITLED TO A REFUND OF A GARNISHMENT OR THE RETURN OF A REPOSSESSED VEHICLE! YOU MAY BE ABLE TO STOP A GARNISHMENT OF YOUR STATE INCOME TAX FROM HAPPENING! If your vehicle has been repossessed, you must act quickly. Call immediately to start an emergency bankruptcy! If you have been garnished more than $600 in the last 90 days, you may be entitled to have all of this money returned to you. If you have received notice that your state income tax is being garnished, you may be able to stop the fund from being released to a creditor by filing bankruptcy quickly.
YOU MAY QUALIFY TO HAVE YOUR DEBT RESTRUCTURED OR REDUCED EVEN IF YOU MAKE TOO MUCH MONEY TO QUALIFY FOR A CHAPTER 7 BANKRUPTCY (WHICH IS A COMPLETE DISCHARGE OF MOST TYPES OF DEBT)! Chapter 13 bankruptcies do not necessarily offer a quick debt-free life, but there are amazing benefits that people can get from filing a Chapter 13, such as reducing the principle owed on a vehicle or removing a second mortgage.
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