Millions of Americans are overwhelmed by their financial situation. If you are currently dealing with seemingly insurmountable debt, making continuous payments to your creditors that do not seem to chip away at your balances or receiving constant calls from collection agencies, you have probably begun to look into solutions to deal with your debt. Our bankruptcy attorney takes pride in helping people deal with their creditors and put the stress and related financial hardships behind them.
Although there are numerous options available to help resolve debt, Bankruptcy often offers a quicker and more definitive avenue to deal with all of your creditors seamlessly. Also, it may provide a cheaper, quicker, and more efficient option than debt consolidation. Our firm assists clients in filing Chapter 7 and Chapter 13 Bankruptcy. Depending on your circumstances, bankruptcy can provide you with relief from your creditors and give you the fresh start you’ve been seeking.
Once a bankruptcy is filed, collection efforts are immediately stopped, instilling a sense of calm to those who file. Under a Chapter 7 Bankruptcy, you are no longer required to repay a majority of your debt, while still being able to retain ownership of your exempt property. This would include the ability to keep your house and cars. Chapter 7 is generally a quicker case, and typically takes 3 to 4 months until completed. In certain situations, a Chapter 13 Bankruptcy is more advantageous and provides different options. Under a typical Chapter 13 case, a payment plan of 36 to 60 months is proposed to provide payments to your creditors. Chapter 13 is generally used to help those who have fallen behind on secured debts, such as your mortgage or car.
At Gordon Lusky LLP, we offer free initial consultations, where we will discuss your situation in detail and can help determine which type of bankruptcy would best fit your needs. If you have any questions concerning your eligibility to file bankruptcy, or how a bankruptcy case would affect you, give us a call today to speak with an attorney.
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