Bankruptcy may help you if you are faced with the following problems:
you cannot make the payments on your credit cards
creditors are constantly telephoning you asking for payments
your home is threatened by foreclosure
lawsuits are being filed against you by creditors
Chapter 7 is the basic form of bankruptcy. The goal is to give you a fresh start by relieving you of your debts that are eligible for discharge. You are allowed to keep a certain amount of property and you only have to surrender property that exceeds the limits. In some cases, you can remove judgement liens from your property.
Most creditors are required to stop calling you and stop all collection efforts against you as soon as you file your bankruptcy case.
Chapter 13 bankruptcy allows certain individuals and sole proprietorships to restructure their debt in 3 to 5 year payment plan. The amount that you must repay creditors in a Chapter 13 plan will depend on the unique circumstances of your case. Chapter 13 is commonly used to stop a foreclosure on your home and allow you time to get caught up on the past due amounts on your mortgage. Chapter 13 is also available for people with higher incomes who are not eligible for Chapter 7, or for people who have excess property that they might lose in a Chapter 7. In some cases, you can avoid judgement liens or junior mortgages as part of a Chapter 13 bankruptcy.
For some people, negotiating settlements with secured or unsecured creditors may be a better alternative than a bankruptcy filing.
CALL TO SPEAK WITH ONE OF OUR ATTORNEYS
If bankruptcy may be an option, we will let you know what information you should get together. You can then set up an appointment to meet to discuss your case.
WE OFFER A FREE INITIAL CONSULTATION FOR CHAPTER 7 AND CHAPTER 13 CASES. You will meet directly with an attorney.
Required disclosure: We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.