We Can Help You Seek Debt Relief

If you are struggling with unmanageable debt, you are not alone. Many people find themselves facing debt that seems impossible to pay off, often for reasons beyond their control. Medical emergencies, a job loss or divorce can quickly create debt that is impossible to erase without help. That's where bankruptcy can provide the debt relief you need. At Gruccio, Pepper, De Santo & Ruth P.A., we help clients file for bankruptcy to break free from creditors and get a fresh start.

While each situation is unique, you do not have to give up everything you own when you file bankruptcy. You may be able to keep much of your property, including your home, your car, your IRAs and your 401(k) plans. Talk to us to learn more.

How Does Chapter 7 Work?

Under Chapter 7 bankruptcy, some of your assets will be sold, and the proceeds will go toward paying your creditors. However, many assets may be protected, including your house and car, depending on your specific situation. After that, aside from certain obligations like child support and back taxes, the rest of your unsecured debt is discharged.

How Does Chapter 13 Work?

Chapter 13 is for individuals who make too much money to qualify for Chapter 7. With this chapter of bankruptcy, you reorganize your debts and come up with a repayment plan to pay at least a portion of your debts over a three- to five-year period. After the repayment plan is complete, your remaining unsecured debts may be discharged.

Will This Ruin My Credit?

A Chapter 7 bankruptcy will stay on your credit report for 10 years; a Chapter 13 bankruptcy for seven years. While your credit score will be impacted during this time, there are steps you can take to begin rebuilding it. Furthermore, it's worth weighing the effect that debt relief will have vs. having to rebuild your credit score. In many cases, bankruptcy will eventually improve your credit score because you have taken control of your financial situation.

You Deserve A Fresh Start. Call Today.

Bankruptcy is designed to provide a degree of asset protection while helping you overcome financial problems. Let our experienced attorneys and staff guide you through the process. Call Gruccio, Pepper, De Santo & Ruth P.A. at 877-760-1031 or contact us online to schedule an appointment. Hablamos español.