Aside from debt consolidation and debt settlement, the Debt Ninja can help you determine if you need to consider filing bankruptcy.
When it comes to filing bankruptcy, there are two types of personal bankruptcy filing options: Chapter 7 and Chapter 13. The Debt Ninja can help you take a look at the main benefits of both and determine if you qualify.
The Debt Ninja understands that the idea of filing bankruptcy may sound devastating, but suffering for years or decades under debt is much worse. While it may sound like your giving up, it may actually lead you to a fresh start.
With the fresh start of a Chapter 7 filing, you would have to sell off nonexempt assets. This means if you have a small business, you would have to downsize back down to the level you were at when you first opened up shop. For some people, they might have to go out of business and make plans to start a new one.
In Chapter 13 bankruptcy, you would have to be sure to make on time monthly payments once you reorganize your debts. This type of bankruptcy shows up as such but operates more like a debt consolidation type plan. You can continue to operate as long as you make your payments. It may take up to 13 years to get the bankruptcy off of your credit.
As the Debt Ninja can assure you, it’s not the end of the world if you have to file bankruptcy. Look at it like a fresh start and a second chance.
To find out which fresh start is right for your financial needs, call the Debt Ninja, and let him guide you in the fight for financial freedom.