The decision to declare bankruptcy can be an emotional one. There are often feelings of shame and failure. That should not be the case. It is not hard to get into debt, but because of high interest rates and other fees it can be difficult to get out of it. Instead of being ashamed because of your financial problems, you need to talk to a Cape Coral FL bankruptcy attorney. He will help you to see that bankruptcy is nothing to be ashamed of.
Your bankruptcy lawyer will explain the different types of personal bankruptcy in the United States. Chapter 7 bankruptcy forgives the debt right away. You will be required by the court to make a list of anything that you own that is worth something. The court will then take your assets and use the money to pay your creditors. The rest of the debt will then be forgiven. Chapter 13 is a little bit different. You will be put on a monthly payment plan. That money will go to your creditors. Once the set time is over, the rest of the debt will be forgiven. Chapter 13 makes more sense if you own a home. Your lawyer can help you to decide what you need to do.