PUTTING THE PIECES BACK TOGETHER
As a compliment to my consumer law practice, I am able to advise you about your options in bankruptcy. Understanding all of the tools at your disposal to fight the abusive practices of creditors in today’s marketplace includes knowing exactly what a bankruptcy would mean to your specific situation. While never an initial option, the consequences of filing a bankruptcy are far less drastic than most people fear and learning the details of this “worst case scenario” will give you peace of mind.
When the situation calls for it, I can advise you what a bankruptcy would mean for you and show you how to best prepare yourself should filing a bankruptcy be necessary.
A Chapter 7 bankruptcy allows you to discharge your personal liability on unsecured debts, secured debts, and even some forms of tax debt. While everybody’s situation is unique, most individual Chapter 7 filers are able to keep their car, their house, retirement accounts, and other valuables important to them. The amount of debt you have is not a factor as to whether or not you qualify. Chapter 7 bankruptcy is often the quickest way to make a fresh start and get out from under the weight of pressing debt. Do not let fears about what you have read on the internet or heard from a friend prevent you from learning what a bankruptcy would mean for your situation from an experienced bankruptcy attorney.
A Chapter 13 bankruptcy permits filers to pay back debts that are not dischargeable in a Chapter 7 and/or allows you to make back payments on secured debts, like your house, to prevent foreclosure or repossession. An additional benefit of a Chapter 13 is the ability to “strip-off” a wholly unsecured lien on your home (for example, if your first mortgage is “under water,” the second mortgage can be stripped off and treated like other unsecured debt and eligible for discharge).
Whatever financial circumstances you are facing, understanding all of the options available to you is the important first step in fighting back.
If you need financial breathing room or have otherwise been forced to deal with a bankruptcy related decision, I will be able to explain your options to you and can help guide you through the bankruptcy process.
Do not hesitate to contact me for a free consultation; you will not consult with a paralegal or other staff, you will have direct access to me.