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Dolores Contreras sat down with Abriendo Puertas's president and host, Claudia I. Ortega, to discuss details regarding bankruptcy.
Ms. Contreras states, "Some of the benefits of declaring for bankruptcy are: you can stop a foreclosure of your home, you can stop your wages from garnishment, you can remove all credit card debt and you can stop a lawsuit filed against you.
It is not very hard to qualify for bankruptcy, generally, everyone qualifies. It is important that you speak with an attorney about your specific situation and see if you qualify for a Chapter 7 or Chapter 13."
At a 2011 event, Ms. Contreras addressed the topics of shortsales, modifications, bankruptcy and which of those you should do first, the difference between 7 and 13, how to eliminate a second loan, what assets can you keep during a bankruptcy, and how a bankruptcy affects your credit.