New Tomorrow Law, APC

Bankruptcy

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Bankruptcy is like hitting the reset button on your finances when you’re struggling to manage debts. It’s a legal process that helps individuals and businesses get relief from overwhelming debt by either restructuring their finances or having some debts forgiven.

There are two main types of bankruptcy for individuals: Chapter 7 and Chapter 13Chapter 7 is like a quicker, simpler way to start fresh. It wipes away most debts, but you might have to give up some property. Chapter 13 is more like a payment plan. You can keep your property, but you’ll have to pay back some or all of your debts over time.

Once you’ve gone through bankruptcy, it’s time to make the most of your fresh start. Set smart financial goals, make a budget, and stick to it. Rebuild your credit slowly by paying bills on time and using credit responsibly. With dedication and good habits, you can take control of your finances and enjoy a brighter financial future.

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If you’re ready to start your journey to being debt free contact New Tomorrow Law, APC ® now to schedule your free consultation.

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