Q: How will I know if bankruptcy is the right choice for me?
The best way to find out if bankruptcy is the right option for you is to meet with a qualified bankruptcy lawyer.  A bankruptcy lawyer can review your financial situation, including your debts, assets and income and then determine which type of bankruptcy you are eligible for.  After your meeting, you will have the answers and information you need to decide whether or not bankruptcy is the right choice for you.

Q: How long will it take for my debts to be discharged?
Once you initiate the bankruptcy process by filing your petition, it should take approximately 4 to 6 months for your debts to be discharged.  However, it may take longer if your creditors have disputes or if you do not fulfill bankruptcy requirements.

Q: What is the difference between Chapter 7 and Chapter 13?
The main difference between Chapter 7 and Chapter 13 is that when a person files for Chapter 7, his/her debts are discharged.  However, when a person files for Chapter 13, he/she will be responsible for repaying his/her debts over a period of 3 to 5 years. Learn more about the differences between Chapter 7 and Chapter 13 bankruptcy.

Q: Are there alternatives to bankruptcy that can help me get out of debt?
Yes, there are numerous alternatives to bankruptcy that are just as effective when it comes to the reduction of debt.  Some alternatives include debt counseling, debt consolidation and debt settlement.  At The Prescott Bankruptcy Law Firm we would be happy to tell you more about the alternatives to bankruptcy so you can get out of debt quickly.

Q: What is the FDCPA and how does it protect consumers like me?
The FDCPA (Fair Debt Collection Practices Act) is an Act that was passed by Congress to protect consumers from creditor harassment.  The Act defines which collection activities are illegal and prohibits creditors from engaging in unlawful behaviors.  Anytime a consumer is harassed by a creditor, he/she has a right to seek legal action to put an end to harassment immediately.