Divorce, business failure, job loss, illness — these are a few of the scenarios that could result in your debt becoming a serious problem. When you cannot find a path to resolving your debt successfully, you may need to consider filing bankruptcy. While most people consider this a last option, for some, it is a definitive way to get a clean slate, a fresh financial start.

There are requirements imposed by federal law that help determine whether you are eligible for Chapter 7 or Chapter 13 bankruptcy. Those who meet the strict requirements under Chapter 7 could have their consumer debt eliminated, those who are ineligible can still file Chapter 13 which allows you to consolidate your outstanding debt, and make a single payment for a period of up to five years, ultimately paying the debt off completely.

We understand how stressful having unpaid debt can be; bill collectors calling, collection notices arriving by mail daily, and the fear of being asked to appear in court because of a bad debt can all add to that stress. If you live in northeast Nebraska, and you feel you can no longer manage your debt, and are considering filing bankruptcy, contact the Norfolk, NE office of Carney Law for help.