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Bankruptcy: Your Fresh Start

Sacramone Law May 9, 2024

Frustrated man with financial documents on tableBankruptcy:A Fresh Start

You've been struggling to meet the financial challenge of debt.

High interest rates are overwhelming you.

Credit card companies and collection agencies are not willing to work with you on a solution.

You need help to hit the "debt reset" button.

We recognize your good intentions to work hard to find a solution. You deserve a Fresh Start.

Bankruptcy can help you settle unreasonable demands, and stop collection efforts. Bankruptcy can help to resolve your financial hardships.

If you're looking to eliminate credit card debt, stop collection actions or stop a foreclosure, you've come to the right place.

Bankruptcy Basics

The loss of a job, serious illness, or a divorce, are life-changing events that often cause financial hardship. Not only is it difficult to pay your bills, but creditors may be hounding you, and you might even be facing foreclosure of your home. Bankruptcy can be an effective and relatively quick remedy to eliminate debt or save your home from foreclosure and start to get you back on solid financial footing.

Bankruptcy is a procedure, controlled by Federal law, which allows you to discharge your debt. Dischargeable debt can be credit card bills, utility bills, medical bills, car loans, and mortgage loans. The discharge is commonly described as a “Fresh Start,” which is a core principle of the relief intended by bankruptcy law.

Discharge Debt

A discharge is an order entered by the Federal Bankruptcy Court that acts as an injunction. This order prohibits your creditors from taking any further action to collect a debt against you personally, or against your property, including wage attachments and harassing phone calls. In effect, the discharge cuts off your personal liability for the debt permanently. Bankruptcy champions your rights against the creditors who are holding unsecured debt (i.e. credit cards) and secured debt (where the creditor has an interest in your property as collateral, like car loans and mortgages).

Some types of debt are not usually dischargeable, such as student loans, domestic support orders, and income tax obligations. However, in some instances, even student loans and income taxes can be discharged.

A Fresh Start

The Fresh Start program allows you to keep ownership of certain real and personal property that are exempt and therefore beyond the reach of creditors. You do not have to give up your ownership interest of all of the property you own in order to receive a discharge of your debt. This makes sense because your Fresh Start would be severely compromised if you had to give up your property.

Rethinking Your Dreams

"Our home will be our investment."

"We'll stay healthy."

"I'll always have an income."

"Social Security will fill in the gaps."

But it hasn't turned out that way.

You lost your job or got sick.

You used up all your savings.

You're behind on your mortgage.

Your house is worth less than you owe.

The monthly check isn’t enough to keep you above water and in your home.

Circumstances beyond your control may have ruined your dreams of how it was "supposed to be," but they don’t have to control how you manage the rest of your life.

Bankruptcy isn't about abandoning your responsibilities...

It's a law enacted through the legislative process that helps you get out of debt.

Rebuild Your Future

You knew borrowing to go to school was the right move.

But you didn’t know LIFE was going to be so expensive.

In most cases student loan debt cannot be discharged but... credit card debt can.

We value your education as much as you do, so let us help you lighten your commitments.

Bankruptcy is not a sign of failure...

It’s a way to conserve your financial resources.

Life Changes

Ill or injured, divorced or widowed, unemployed or underemployed... all these scenarios can leave you depleted.

And not just your bank account, but your emotions as well.

You've maxed out your "stress" card and you need an immediate and long-lasting remedy.

You don't want a handout, but a hand-up.

Restore your peace of mind. Take our hand and we'll guide you toward possible solutions.

The Law Offices of Frank Sacramone Jr. LLC is designated as a Debt Relief Agency under the Bankruptcy Code. Frank Sacramone Jr. has been successfully filing bankruptcy cases for Connecticut residents in financial need since 1984.