The bankruptcy rules are designed for the protection of the consumer. Bankruptcy permits borrowers who have gotten over their heads to either restructure their debts or have a fresh start.

There are many types of bankruptcy and the two most important are Chapter 7 bankruptcy and Chapter 13 bankruptcy. The attorneys at our law firm will assess the best option for you.

Chapter 7 Bankrupcty

Bankruptcy allows overburdened borrowers to erase the majority of their debts, sometimes in as little as 60 to 90 days.

Certain debts that can be erased by bankruptcy are credit cards, deficiency judgments after a foreclosure and deficiency balances from a repossessed car lease or loan. Rest assured, when a Chapter 7 bankruptcy is complete the borrower gets a clean slate to start over.

Chapter 13 Bankrupcty

Bankruptcy allows borrowers to erase the same debts as in Chapter 7 while at the same time modifying other debts that the borrowers may want to keep paying.

In a Chapter 13 bankruptcy, the bankruptcy judge can actually help borrowers facing foreclosure to modify their mortgage loan and save their home. This bankruptcy option requires a payment plan and is better suited for borrowers who have a steady income.

These are scary and difficult times for our country. One thing that is wonderful about our country is that while it offers many credit facilities, it also offers a start over button when financial difficulty strikes. Financial hardship may result from health problems, divorce, foreclosure or job loss. What is important is for you to learn what your options are.

Bankruptcy may be the solution to resolve your financial hardship. Consult with the right attorney! Contact us for a free consultation!

Retainer fees for bankruptcy cannot be paid by credit card. We accept cash, check and money orders.