FRANK D. TAFF, J.D., Attorney at Law
Bankruptcy Basics - Part 1: Introduction
What is bankruptcy? What happens in a bankruptcy case? Bankruptcy is a legal process that provides relief for individuals who can no longer pay all of their debts. If you are considering bankruptcy, t...
They make good people go bad. Before credit cards came on the scene, few Americans had debt problems. With the coming of the credit card in the early 1950's and the rapacious push of credit card issuers in the 1980's to put a credit card in the hands of every breathing body, many Americans found themselves way in and way over their heads in credit card debt.
Many Americans became snared in the clever
credit card traps laid by banks – “Buy now, pay later!” – “No money down, no interest for 18 months!”, they cried. Many American got caught by the banks like rabbits in a foot trap. Many Americans thought there was no way to get loose, no out from under the oppressive burden of ever mounting credit card interest and late fees. Higher and higher their credit card debt swirled . . . like a Kansas tornado, bearing down upon them and their families.
But, fortunately, there is a way out -- by petitioning for debt relief or filing for bankruptcy, as it is normally called. This springs the credit card trap for most Americans. This is the main reason for the increase in bankruptcy filings in our country over the past two decades – credit card issuers have brought this upon themselves, by laying traps for the unsuspecting consumer. Like this one . . .
Fortunately, the federal government provides a legal and honorable way out of the overwhelming debt that the credit card companies may have induced you to incur. The way out is to petition the federal courts for debt relief. There are two chapters of debt relief -- or bankruptcy -- designed by Congress for you, the consumer. These are commonly called Chapter 7 and Chapter 13 bankruptcy. The first type is known as "straight bankruptcy" and the second is known as "wage earner bankruptcy."
If you answer "Yes!" to the following questions, call us today.
- Are you struggling to keep up with minimum payments?
- Are your interest rates rising continuously?
- Do your debts keep you awake at night?
- Are you committed to getting out of debt?
Call for prices, payment plans and information about filing fees for either type of bankruptcy filing. In some cases, we may be able to obtain waiver of the filing fee for you. Ask about the new, pre-filing credit counseling requirements and how we can arrange it for you. See next page for further information.
Call us today with your questions about filing for bankruptcy or for a confidential appointment at 785.272.4108.
"Dear Sir-- I had called you re: a bankruptcy today. I just wanted to drop a note to say thank you for taking my call and the advice you offered. You sounded sincere about the job loss, I'm fighting. It seems harder and harder to find people who care about each other. When I need an attorney, I'll remember you're kindness."
"It's wonderful! I can pay my bills now!"--quoting a client a few months after she filed Chapter 7 bankruptcy.
Don't wait until garnishments take your savings or wages!