If personal financial problems get out of control, bankruptcy can be a powerful legal tool. We help individuals and businesses get their financial situation under control using the federal bankruptcy laws. These laws were enacted to give consumers a fresh start or an opportunity to restructure their debts to make them manageable.
Individuals generally have an option when exploring consumer bankruptcy. That option is between filing a Chapter 7 or a Chapter 13 bankruptcy. A Chapter 7 is often referred to as “liquidation” while a Chapter 13 is called a “repayment plan” or “reorganization.” A Chapter 7 allows consumers to discharge many of their consumer debts and obtain a fresh start. Chapter 13 allows consumers to pay back their creditors over a period of time, typically 3-5 years. A Chapter 13 requires the debtor to have a continuous source of income. Because many individuals considering bankruptcy do not have a sufficient source of income and are trying to obtain a fresh start, a Chapter 7 is often preferred.
Common Debts That May Be In Discharged Bankruptcy Are:
• Credit Card Debt
• Medical/Hospital Bills
• Mortgage and Home Equity Loan Debt
• Civil Judgments
• Utility Bills
• IRS Bills (depending on the year the tax became due)
Other Bankruptcy Relief:
• Stop Harassing Creditor and Debt Collector Phone Calls
• Stop foreclosure
• Stop Wage Garnishment
• Eliminate Debt
• Eliminate Lawsuits, Judgments, and Liens
For more information about the specific types of bankruptcy, please click on the links above or on the Practice Areas page.