Bankruptcy is frightening. Many people wonder, “What will bankruptcy do to my credit score? What will my friends say? What will my family say?” Matthew J.Cherney at Cherney Law Firm, LLC and his team are Marietta bankruptcy attorney experts that help wade through the problems that make up consumer bankruptcy to reduce your stress and help you get back on the road to financial stability.
People who seek help from Matthew Cherney are asking difficult questions and making difficult choices. “Should I put food on the table this month, or should I pay my credit card bill? Do I pay my rent this month, or do I pay my car loan? Where can I turn for help?”
Although there are legal issues associated with bankruptcy, most consumers report that other concerns are just as important. They are anxiety, stress, shame, and embarrassment. These people believe they have let themselves, and their families down. They feel that they have nowhere to turn.
The truth is, debt relief is here. Cherney Law Firm, LLC is determined to help people solve their financial problems—often problems that are not of their making. There are unforeseen expenses or unanticipated circumstances that affect their ability to deal with debt.
In 2006, millions of people lost work, but their debt remained. While the economy may be rebounding, most individuals, while they do have a job, are underpaid. They simply cannot service their current debt because the debt is based on what used to be a larger monthly income.
The 2006 recession was tied largely to subprime mortgage loans. Matthew Cherney has similar concerns with the current economy as evidenced by sub-prime car loans. “Car loans used to be for four or five years, now they are sometimes stretched out for seven or eight years at 18% or 25% interest.” If a consumer experiences even a small change in their income, how are they to pay a loan like this?
There is similar evidence with student loans. Earning is simply not keeping up with the monthly costs of student loan payments. If one defaults on his or her student loan, they may face wage garnishment, or they may need to seek help from Cherney Law Firm, LLC.
Why a Bankruptcy Attorney?
Most individuals hire Cherney Law Firm, LLC because they want to negotiate lower payments or settle their debt. Bankruptcy is rarely the first option. However, once an individual learns more about the process, they realize it is an option for them. Additionally, bankruptcy doesn’t carry the same stigma as it may have in the past.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is for individuals who do not have the financial means to pay back a debt. These are often unsecured debt such as credit cards, medical bills, or personal loans without collateral.
Chapter 13 Bankruptcy
This form of bankruptcy is for people who do not qualify for a Chapter 7 bankruptcy, and who would like to consolidate their debt and pay off a loan over 3-5 years.
People who are anxious or who have to make hard decisions about their debt should come and visit Cherney Law Firm, LLC. We can help you begin the process of rebuilding your financial world. Contact us to help you recover from debt.