Are Creditors harassing you? Facing Foreclosure? Are creditors treatening to lien your property? Want to eliminate or consolidate your debt? Are there judgements against you? Do you need to recover repossessed property? Do you need a financial fresh start?
Bankruptcy may be for you!
Whether you are voluntarily considering filing or are being forced into Bankruptcy, remember that this is a government approved procedure designed specifically to help good, hard working people get back on track. This process is common - nothing to feel ashamed of - especially in the current economic climate, where the number of bankruptcies has risen sharply.
|We will help you consider the complexities of filing bankruptcy and counsel you on the best course of action. Our sincere goal is to provide quick, efficient, and personalized service to our clients.|
Chapter 7 is a Liquidation wherein all your non-exempt assets are sold and the proceeds distributed to your creditors. It allows you to get a "Fresh Start" with creditors by wiping out your debt. You may keep exempt assets, however, debts secured by collateral (such as a a house or a car) may not be discharged. This is the simplest and quickest type of bankruptcy to file, taking roughly 3 months from the time your petition is approved until the debts are discharged.
Chapter 13 is a Reorganizatiion that allows debtors with a regular source of income to create a repayment plan that creditors agree to. In Chapter 13, the debtor proposes a plan to pay their creditors over the course of 3 to 5 years. Although the chapter 13 debtor must stay current on their monthly mortgage and car payments, any arrears owed to the lender may be made over the course of the plan. Any individual, even if self-employed or operating an unincorporated business, may be eligible for chapter 13 relief as long as the their unsecured debts are less than $360,475 and secured debts are less than $1,081,400.