Are you being harassed by bill collectors? Are they threatening to sue you, garnish your wages, repossess your vehicle or foreclose on your home? When doing your best will not satisfy your creditors, what can you do?
Many good people become unable to pay their debts and need protection from creditors. Notable among them are Presidents Thomas Jefferson, Abraham Lincoln, Ulysses S. Grant, and Harry Truman. Also, Henry Ford, Walt Disney, Charles Goodyear, Henry Heinz, Milton Hershey and Mark Twain. Great companies that have reorganized in bankruptcy include: General Motors, Chrysler, American Airlines, Washington Mutual and Lehman Brothers. Insolvency can happen to anyone. It can result from illness, disability, medical expenses, Job loss, misfortune in business or inadvertently taking on too much debt. Although all good people would like to pay all their debts, not everyone can. So, don't beat yourself up about it.
If you cannot satisfy your creditors, your credit is either bad or about to become bad. Your debts will continue to grow with interest, penalties, late fees, over-the-limit fees attorneys' fees and court costs. Then, you may face garnishment of wages and seizure of assets, including your bank accounts. These things not only ruin your budget, but can result in the loss of your job, rendering you unable to support yourself and your dependants. Bankruptcy stops collection efforts by creditors and gives you a fresh start. You can either restructure and reduce your debts or, in many instances, eliminate them altogether. Thus, you can get your budget under control and start rebuilding your credit, which could never happen without the help of bankruptcy. Although neither the Supreme Court of Missouri nor the Missouri Bar certifies bankruptcy specialists, attorney Harry Boul is certified in both consumer and business bankruptcy by the American Board of Certification, an arm of the American Bankruptcy Institute. He earned a bachelor's degree in