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Bankruptcy
Bankruptcy
Protecting You from Creditors Through Bankruptcy
If you find yourself struggling financially and feeling overwhelmed by debt, you are not alone. Many individuals and families have experienced similar challenges. Our team is here to help. We can assess your debts, answer your questions, and explore all available options to relieve you from creditor pressure. With our track record of successful debt relief, we will work to find a solution that meets your needs and helps you get back on track.
What Happens During the Bankruptcy Process?
After your initial consultation, one of us will clearly explain each step of the process before you make a decision. We will assess whether you qualify for Chapter 7 bankruptcy or if you should pursue Chapter 13 instead. We will officially file your case with the bankruptcy court, gather all necessary documents, and provide the appointed bankruptcy trustee with the paperwork required to move your case forward. Our compassionate team will support you throughout the entire process. Book your consultation today.
What Are The Differences Between Chapter 7 And Chapter 13 Bankruptcy?
In a Chapter 7 bankruptcy, you’ll be able to eliminate most of your debt, such as medical bills, credit cards, past due tax bills, vehicle repossessions, and other types of debt. Chapter 7 will put an end to frozen bank accounts, garnishments, and threatened lawsuits as soon as you file. You can usually keep some of your possessions, including your car and house, if you make on-time payments.
Chapter 13 bankruptcy, on the other hand, consolidates all your debt into a single, affordable monthly payment until you pay your debt in full. It, too, stops the hassle and stress of lawsuits, frozen bank accounts, and garnishments immediately after you file. It can also put an end to car repossessions and foreclosures, allowing you to catch up on your back payments if your budget can accommodate them. Don’t put up with debt collectors’ harassment a moment longer.
Is Chapter 7 Bankruptcy Right for Me?
In a Chapter 7 bankruptcy, you can eliminate most of your debts, including payday loans, medical bills, credit cards, personal loans, and repossessions. In most Chapter 7 cases, you can also keep your home and car as long as you make your payments on time. The benefits don’t stop there. The moment you file for bankruptcy, you put an end to all harassment and threats from creditors, including lawsuits, wage garnishments, and frozen bank accounts. However, there are several strict requirements, so it’s important to have an experienced Chapter 7 lawyer by your side before you begin the process. Our bankruptcy law firm has a proven track record of helping clients achieve a fresh start in their financial lives.
Are There Any Types of Debt Chapter 7 Doesn’t Cover?
Unfortunately, Chapter 7 bankruptcy does not eliminate certain types of debt. If you owe past income taxes to the federal or state government, child support, spousal support, or student loans, you will need to find alternative payment arrangements for those debts. However, filing for Chapter 7 bankruptcy can help you free up more funds to manage these obligations. Therefore, it is essential to work with a lawyer who specializes in bankruptcy cases. Our expert Chapter 7 attorneys can meet with you to develop a plan that will help you achieve lasting debt relief.
What Are Some of the Requirements for a Chapter 7 Bankruptcy?
To prevent high-income people from taking advantage of an “easy out,” applicants for Chapter 7 bankruptcy must pass a means test. The means test assures the court that you do not have enough income to reasonably pay off your debt. You’ll also need to get financial counseling during the six months before you file. To ensure that you meet all these requirements and file the proper paperwork, you’ll need to meet with a bankruptcy lawyer well beforehand so that the process goes through as quickly as possible. Get started on the road to financial freedom today.
What Is Chapter 11 Bankruptcy?
A Chapter 11 bankruptcy allows you to restructure your debts and establish a repayment plan in collaboration with your creditors. This approach offers a reasonable chance of success. However, Chapter 11 bankruptcies are among the most complex cases in bankruptcy law. You must provide thorough proof, including disclosures and documentation, showing that your business or family has a strong likelihood of viability if granted relief. Our bankruptcy law team is here to help you determine if Chapter 11 bankruptcy is the right option for you. We will support you throughout the process and work towards achieving the best possible outcome.
How Can a Chapter 11 Bankruptcy Benefit Me?
Chapter 11 bankruptcy allows you to restructure various types of debt, including defaulted or mature bank loans, overdue tax obligations, and liens on your real estate. This process also enables you to halt a foreclosure sale and negotiate with your creditors to modify other debts. Importantly, instead of handing over your business or personal finances to a trustee, you typically retain control of your financial decisions as “debtors-in-possession.” Although it can be a challenging journey, our compassionate bankruptcy attorneys are here to guide you every step of the way.
Am I Eligible for Chapter 11 Debt Relief?
While Chapter 11 proceedings are most commonly associated with businesses, they are also available to married couples and individuals. It is essential to work with a skilled bankruptcy attorney to achieve a favorable outcome. Our experienced bankruptcy lawyers have helped numerous businesses and families secure debt relief through bankruptcy. Contact us to determine if you or your business qualifies for Chapter 11 relief.
What Is A Chapter 13 Bankruptcy?
If you’ve fallen behind on your house or car payments, filing for Chapter 13 bankruptcy can provide crucial relief. It can stop foreclosure on your home, help you keep your car, and potentially lower your car payments. In some situations, you might qualify for a repayment plan that requires you to pay only a percentage of your debt while still retaining ownership of all your assets, including your home and car.
Additionally, if you have unpaid parking tickets that led to the suspension of your driver’s license, a Chapter 13 bankruptcy can help you get your license reinstated. To fully benefit from the advantages of Chapter 13 bankruptcy, it’s essential to have an experienced bankruptcy lawyer by your side.
Our expert bankruptcy attorneys have a proven track record of successfully handling Chapter 13 cases for our clients. We can assist you in pursuing a favorable outcome.
How Do I Qualify for a Chapter 13 Bankruptcy?
First and foremost, you need a stable and regular income that allows you to make consistent payments as required by the court’s judgment. This income doesn’t have to come from traditional employment; you can also qualify if you receive Social Security, disability benefits, unemployment payments, retirement benefits, or even rental income. However, if you work as a stock or commodity broker, you are not eligible for Chapter 13 bankruptcy. Similarly, corporations cannot seek Chapter 13 relief.
Sole proprietors and self-employed individuals can qualify if their debts fall within certain limits. Additionally, if your debts extend over a period of three to five years, you may qualify for Chapter 13, provided you pass a means test that assesses your eligibility.
Our experienced legal team is here to review your specific situation before you file, helping you determine if Chapter 13 bankruptcy is the right choice for you.
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