The bankruptcy laws offer individuals and families an opportunity to get rid of their debt and have a fresh start.
We want you to know that as soon as you file your petition for bankruptcy the law requires your creditors to stop all collection activities against you.
As an individual or a married couple you can eliminate your credit card debt, medical bills, personal loans, and other unsecured debt. In the course of the bankruptcy proceedings a trustee takes a look at your debts and assets and determine if you qualify for the exemptions that the law offers for certain properties, including your house and your car.
Before filing you case we will study your situation in detail so that you have all the information you need to make an educated decision. It is our goal not to have any surprises at the time of the creditors meeting with the trustee. We will try to determine in advance what assets you can keep.
Among the requirements for Chapter 7 bankruptcy are:
-Not to have filed for bankruptcy in the last eight years.
-That you are currently unable to pay your debts.
-Pass the â€śmeans testâ€ť if you surpass certain level of income. Our team will instruct you on the detail as well as will prepare the necessary forms.
-To meet the residence requirements for the state in which you will be filing.
THE BANKRUPTCY PROCESS
You start with a petition in the local bankruptcy court depending on your area of residence. The petition includes several forms in which we will list, among other things, your assets, your secured and unsecured debts, your income and expenses, and all properties on which you have some right of ownership, including you house and car.
We want you to now that filing for bankruptcy doesnâ€™t mean that you have to give up your house and your car. Depending on each individual circumstance, including the amount of equity, you may qualify for an exemption and keep your assets.
At the end of the process there will be a creditors meeting where you, your lawyer and any creditors who which to assists (generally none) meet with the trustee assigned for you case. The trustee will then ask you questions under oath. Your obligation is to tell the truth. In this case, quite literally, the truth will set you free. By the time you have the hearing we would have given you a good background on what questions to expect and what documentation you may be asked for.
Call us if you want to avail yourself of this opportunity to solve your financial problems once and for all.