Bankruptcy is a legal process to help debtors (people who owe money) get relief from the debts they cannot pay and, at the same time, help creditors (people who are owed money) get paid from whatever property or assets the debtor has that he or she does not need to live. Deciding to file for bankruptcy is a very tough decision. You may be feeling overwhelmed and bankruptcy seems like the only option. But think about the decision carefully because it can really affect you for a long time. Also, bankruptcy does not remove all debt, and there are certain types of debt that cannot be discharged (eliminated) in bankruptcy. It is best to have your case reviewed by a Bankruptcy Attorney, CPA, or Debt Resolution Specialist
The Law offices of Eugene Ahtirski Protecting your rights as a consumer since 1994 . Let our experience work for you
Chapter 7 a liquidation of your debt, Chapter 13 a restructuring of debt with a 5 year repayment plan, and Debt Resolution a 90-120 day process of negotiating and settling your debt with individual creditors; are generally your 3 options, Free consultation to help you decide what direction fits you best.
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The information you obtain on this website is not, nor is it intended to be, legal advice. You should consult with a structured settlement attorney for individual independent professional advice regarding your own situation. Prior case results do not guarantee a similar outcome. Each case and facts are different.
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Chapter 7 Bankruptcy can...
Chapter 13 is a repayment plan for individuals with regular income. Under this type of bankruptcy,...
Chapter 7 is the most common form of bankruptcy for individuals. It is a liquidation bankruptcy,...
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Chapter 7 Banruptcy is the most common form of bankruptcy for individuals. It is a liquidation bankruptcy, which means that the court sells all your assets for cash and then pays your creditors. You can keep assets that are exempt from sale either under federal law or the law of your home state. Chapter 7 bankruptcy can wipe out most of your debts. There is a “means test” for filing this type of bankruptcy. You must make less than a certain amount of money. Talk to a lawyer to see if you qualify for this type of bankruptcy. You cannot repeat this type of bankruptcy filing for 6 years.
Save Your House – Bankruptcy will put an automatic stay on any foreclosure or eviction process
Facing foreclosure? Stay in your home and get out of debt! No more harassing phone calls!
Bankruptcy can do just that.