In New Jersey, the wildcard exemption allows you to protect up to $1,000 in personal property that is not included as part of other exemptions. The federal exemption allows you to protect up to $12,725 of property unless you use the homestead exemption which lowers the amount. It doesn’t matter who you are. If your family’s future is at risk because of an ongoing debt or credit dispute, a consumer protection lawyer can stop the harassment, resolve the dispute, or defend you against a debt collection lawsuit. The chicago consumer law routinely and effectively solve the most vexing and complicated debt and credit issues such as bankruptcy, mortgage modifications, and student loan payment optimization.
But bankruptcy sounds so easy, right? You hire an attorney, they file some papers, and your slate is wiped clean. Well, it is not quite that easy, and many people take filing for bankruptcy lightly nowadays. Here are reasons why you should try to avoid bankruptcy at all costs:
It puts an emotional strain on your relationships: You will be getting sued, dealing with attorneys, and going to trial hearings. It is not a walk in the park, and if you are married, it will definitely affect your relationship.
It can be expensive: Filing for bankruptcy is not for free, and if you want to do it right, you will need a decent attorney to handle it for you, and attorneys are not free! If you don’t use an attorney, you leave yourself vulnerable to possible liability for debts you can’t pay. Remember, it can be expensive to go broke!
Most people don’t need to file for bankruptcy to get out of their financial mess. Most times, it only requires you to get organised, take control of your life, and start systematically paying off the debt. Get on a written budget, work another job, sell a bunch of stuff, and get your debts paid off. It sounds so simple, but the hard part is overcoming the person that got you into this mess…yourself. If you can overcome yourself and make wiser decisions, you can win with money and avoid bankruptcy.
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