Understanding Your Options in Bankruptcy
You may be familiar with some of the terminology in Bankruptcy and some of it may be unfamiliar to you. I focus on helping people seek relief under the Bankruptcy Code by filing Chapter 7 and Chapter 13 cases.
A quick and simplified overview of a Chapter 7 filing is that most of your debts will be discharged at the completion of the Bankruptcy. This allows you a fresh start as you will no longer have the mountains of medical, credit card, and other debts hanging over you. Even with the complete discharge of your debts, you do not have to give up all of your property. The law allows you to keep certain amounts of property in a bankruptcy, or what is commonly referred to as an exemption. By scheduling a consultation with me you can get a better idea of how and if a Chapter 7 will work for you.
A Chapter 13 Bankruptcy can be thought of as a way to reorganize your debts. During the course of a Chapter 13 Bankruptcy you will be making payments through a plan that will allow you to save your home from foreclosure and your car from repossession. In some cases, a Chapter 13 may be your only option if your income is above a certain point.
Regardless of whether you file a Chapter 7 or Chapter 13 Bankruptcy, the never ending creditor calls stop. Collection and Foreclosures are halted. You can start anew! Contact me today for your free consultation!
