When hard-working people miss 1 or 2 credit payment, credit card companies may increase their interest rate to 12-18% and sometimes even higher.  If an unforeseen event occurs - such as a medical bill, job loss or loss of hours at work - it becomes nearly impossible for many people to pay their credit card bills on top of their other monthly expenses.  Even without a catastrophic event, good people may find it impossible to keep up payments to predatory credit card companies.

Fortunately, many people have the ability to free themselves from debt by filing for bankruptcy.  Bankruptcy is when a consumer seeks elimination of their unsecured debt through Chapter 7 protection.  For people to qualify for Chapter 7 protection, most people must have income at or below the median family income for their state.  People whose income is higher than the median family income may have to file for Chapter 13 protection.  Chapter 13 provides for a debt repayment plan to unsecured creditors with payments lasting from 3 to 5 years depending on income.  

Many people come into our office asking what will happen to their home, cars and retirement accounts if they declare bankrtupcy.  In 99% of cases, we are able to help people keep these assets.  

At JD Haas & Associates, we assist people through the bankruptcy process at a low price, and we never hide fees or conceal the amount we are asking.  If you are struggling with debt and want a law firm that will always explain the costs up front, please contact our office.