Bankruptcy

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Advisers are standing by to assist you toll free 1-800-622-2396. If you have an existing legal matter or just a simple legal question and would like to speak with an attorney in your area, please call for a free consultation or complete the form on this page with the best time to contact you. Free consultations with local attorneys!

Do you have too many bills and feel overwhelmed with debt? Do you feel the need to file for Bankruptcy? Are you trying to save your house, automobiles and or any other assets? Are you being harassed by creditors? Do you need information regarding filing for Bankruptcy or are looking to have someone file on your behalf? Do you need legal advice to make a determination on the best way to file? Would you like a free consultation with an experienced attorney specializing in bankruptcy? If so we can help. Call now for a free consultation with an attorney in your area or fill out the Legal Help Now Form on the left of this page to get the legal help now that you deserve. There is no obligation and legal help is only a phone call away. Why Wait, get bankruptcy legal help now!

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Bankruptcy law provides the groundwork for any business or any person who may find themselves in a position where they can no longer make payments on the debts they owe. There are several types of bankruptcy available, many of which provide relief from paying heavy debts in a short amount of time. Bankruptcy is the last resort for many people. There are definite negative aspects to filing bankruptcy including the simple fact that bankruptcy will destroy the credit of that individual or may even close the business down. In the United States, there are several types of bankruptcy that can be filed.

Chapter 7 Bankruptcy

The debtor is required to surrender assets to pay debts. Any remaining debt after this process is completed will result in the discharge of that debt. If and when a bankruptcy is discharged, the debts owed to creditors which had debt included in the is discharged. This type of debt is no longer to be paid by the debtor to the company.

Generally, some items do not fit into chapter 7 bankruptcy or may be exempt from the process.

In some states, individuals are able to keep one vehicle.

In many states, a debt that is current and being paid on time can be exempt from the discharge of the debt. For example, if a home mortgage loan is being paid on time and is not late, it does not have to be included in the bankruptcy. The lender of this loan must agree to this process, but generally do so since it keeps the loan being paid. Vehicles that have loans on them may also go through this proces

Chapter 13

Any individual, even if self-employed or operating an unincorporated business, is eligible for chapter 13 relief as long as the individual's unsecured debts are less than $360,475 and secured debts are less than $1,081,400. 11 U.S.C. § 109(e). These amounts are adjusted periodically to reflect changes in the consumer price index. A corporation or partnership may not be a chapter 13 debtor. Id.
An individual cannot file under chapter 13 or any other chapter if, during the preceding 180 days, a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens. 11 U.S.C. §§ 109(g), 362(d) and (e). In addition, no individual may be a debtor under chapter 13 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. 11 U.S.C. §§ 109, 111. There are exceptions in emergency situations or where the U.S. trustee (or bankruptcy administrator) has determined that there are insufficient approved agencies to provide the required counseling. If a debt management plan is developed during required credit counseling, it must be filed with the court. Call now for a free consultation with a local attorney or complete the form above for free bankruptcy help. Advisers are standing by at 1-800-622-2396

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