Consolidate Your Debt With Chapter 7 Bankruptcy

March, 2013 by

Unfortunately, every single one of us has to deal with debt. Sometimes it falls out of your control if circumstance’s change in your finances such as overspending, or losing your job. Are you feeling overwhelmed by creditors? Are you on the verge of losing your home? Don´t feel like you are the only one, filing for Chapter 7 in Des Moines will help you get back on track and get you smiling once again. Sometimes though, you just need a well-trained financial advisor that can consolidate your bills and help you get on top again.

Debt management and credit counselling:

Chapter 7 Des Moines can help you put together a budget that will work based on your income. If you have to make smaller payments to your creditors, then your agent can speak with the creditor and come to a suitable payment plan, this isn´t always possible so you may have to take money from another area to make up the difference. You will have to crack down on unnecessary items such as entertainment, recreation, and new clothes. Stay strong as you try to get back on track, you can get back to extra spending when your bills are under control. There are bills that you cannot change such as housing expenses, health care, food, rent or mortgage but cutting back on unnecessary items you might be able to make it work. Don´t feel alone when it comes to debt your agent will walk every step with you to help guarantee you will be stress free again.

Some of us are not well disciplined to carry through a new budget so Chapter 7 in Des Moines will help you solve your financial difficulties. They will sit with you and make a list of all outgoings and incomings, don´t hide anything when working your agent even you think it doesn´t matter. Anything you are paying for needs to be on that list. When your budget is laid out on paper have a good look at it and make sure you can afford to make the payments. You don´t want to talk to a creditor and come up with a plan that suits both of you then all of sudden stop paying again. This would have a very negative impact of your credit rating, and it could take years before you’re able to get good credit again.

If you have too much debt:

If at the end of trying to sort out a new budget, and you just can´t handle the new payments you may have to look into applying for bankruptcy. Even though obtaining a chapter 7 entitles you to have no more payments it will affect your credit up to 10 years. Hopefully, this has to be your last resort, it has some consequences one being a long term negative credit rating.


Filing chapter 7 in Des Moines may be the best resort. If debt management does not look like it will work the contact Kevin Ahrenholz, Bankruptcy Lawyer serving clients in Cedar Rapids, Waterloo, Mason City and Des Moines Iowa.


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