What will a bankruptcy do for me?
While each situation is different, a bankruptcy filing can:
How do I know what kind of bankruptcy to file?
I will sit down with you on a free initial consultation and look at your current financial situation. First, I will determine whether or not you even need to file.
Sometimes bankruptcy doesnt make financial sense to file and I will tell you that. However, if the protection of the bankruptcy laws would help you, I will determine
the kind of bankruptcy best suits your needs.
What kinds of bankruptcies are there?
Generally this Chapter permits an individual who is temporarily unable to pay their debts to keep their property by repaying their creditors with future income
over a period of time, usually 5 years (60 months). You would work with me to set up a Chapter 13 bankruptcy plan and after the plan is paid out, you receive a
discharge of your debts. I will work directly with you to set the proper payment for you given your income, expenses and the types of debts you owe.
Advantages to Chapter 13:
Chapter 7 bankruptcies are designed for individuals who can't pay all their debts. Under a Chapter 7 bankruptcy, you get a fresh start. While there are limits on the
amount of property you can keep, I will work with you to create a plan which best protects your property from creditors.
Advantages to Chapter 7:
Plans for Family Farmers. Allows family farmers to repay their debts in a type of plan similar to Chapter 13. Call me if this is your situation.
Plans for businesses and some individuals. This code section is primarily for businesses and most often does not apply to individuals. Call me if you own a business
that needs to be reorganized.
What do I do if creditors call me?
After you have retained me, you should tell the creditor that you are going to file for bankruptcy, give him my name and telephone number and SAY NOTHING ELSE. Do not
talk, argue or give any other information to the creditor. While there are some exceptions to this rule, you and I will discuss your situation and I will advise
you as to what to do and say.