Are you a debt slave?

Are you a debt slave?

The Thirteenth amendment to the US Constitution abolished slavery. At least that is what we are told in school. The owning of a person as property is no longer allowed. Now we have an even more insidious form of slavery -debt slavery.. A debt slave is one who must give all their hard earned money to a creditor and only keep enough to live on for another week. Are you a debt slave ?

Look at your monthly net income

If you have more than 6 months net income to pay in unsecured debt ,  you are a debt slave and will never be free. You will never generate enough income in your present situation to become free.  The kind of debt doesn’t matter. It can be medical bills credit card debt or past due accounts from car loans .

A bankruptcy filing stops all collection activity

You get the time and advice on how to salvage your finances and go forward with a fresh start. All the calls, garnishments and letters are banned, The debts discharged in a chapter 7 proceeding are gone forever. For most people , their lives can start over. Anything good in your future life belongs to you ,not the creditor.

Some debt cannot be gotten rid of

Child support ,back taxes, court fines and other restitution are all impossible to discharge in a bankruptcy.. Student loans are a debt which will cripple people all their lives.  Hopefully the government over time will amend the Bankruptcy code and give people some freedom on these items.

The reason for your debt slavery does not matter

Whether it was a physical injury, a divorce, loss of job or just plain mistakes, all can be wiped out in a chapter seven bankruptcy. The decision to be free is yours to make. Your path to freedom starts with a simple call to me at 319-373-1989. Clikc here to learn more about John M Heckel Iowa Bankruptcy Attorney