So, to our first question, "Who can file for Bankruptcy?" The answer - practically anyone can. So long as a person has debt and a social security number (which is not needed if the filing party is a corporate body of some sort), then that person can file for bankruptcy. Now, that doesn't mean that Chapter 7 (liquidation), and Chapters 13 and 11 (reorganization) don't have limits and qualifications, but Bankruptcy is always an option, though not always the best one to choose.
 |
| If you go in the right direction, there IS light at the end of the tunnel! |
To our last question then, "How do I know if Bankruptcy is right for me?" As a general rule, if a person's unsecured debt (credit card, medical bills, etc.) equal or exceed their annual income, it is probably time to talk. When you are looking at that sort of debt/income ratio, digging your way out could take decades without a fundamental change to income and expenses. However, often times our clients are forced to consider Bankruptcy, after their creditors start to severely impact their lives. Many people cannot afford to have their wages garnished, or their bank accounts levied. Others simply want the phone calls and the stress to stop. It is fairly typical to meet many of our clients after they've been sued, their homes are being foreclosed, or they are just flat out of money.
If you are trying to figure out what options are available to you, you can't afford wage garnishment/bank levies, or you just can't take the creditor calls anymore, then let's talk. We can set you on the path to financial recovery. As always, there is no charge for a Bankruptcy consultation.
Whether or not you are getting a lawyer to help you, you need to know what you are doing in your bankruptcy case so you don’t get burned.
ReplyDeletenevada bankruptcy
Hi! Thank you for sharing your thoughts about bankruptcy attorney in your area. I am glad to stop by your site and know more about bankruptcy attorney. Keep it up! This is a good read. I will be looking forward to visit your page again and for your other posts as well.
ReplyDeleteThe realisation of funds usually comes from two main sources: the bankrupt's assets and the bankrupt's wages. There are certain assets that are protected, referred to as "protected assets". These include household furniture and appliances, tools of the trade and vehicles up to a certain value. All other assets of value will be sold. If a house or car is above a certain value, the bankrupt can buy the interest back from the estate in order to keep the asset. If the bankrupt does not do this, the interest vests in the estate and the trustee is able to take possession of the asset and sell it.
Bankruptcy filing under Chapter 13 is more complicated. The process is longer, and there is a great deal of personal responsibility for debt relief. Experienced bankruptcy lawyer Theodore S. Collatos can guide you through this process will make your filing much easier to manage.
bankruptcy attorney peabody ma
Sometimes bankruptcy seems like the only one way to pay all the debt, Bankruptcy becomes affordable if you are consulting with a reliable attorney. It's not a wise case if you are using all the money to clear the debts.
ReplyDeletefind in phoenix bankruptcy attorney
great article, glad that i saw your blog online..i really find your blog very interesting at the same time i have gained a lot of helpful tips..
ReplyDeletebankruptcy attorney pittsburgh
Hi there! great stuff here, I'm glad that I drop by your page and found this very interesting. Thanks for sharing, keep it up!
ReplyDeleteThere are ways to apply federal and state protections and make Chapter 7 work for you. However, if your gross income is above the median income of the state in which you reside, you cannot file for Chapter 7. There are other options available to you. It's essential to follow the advice of an experienced bankruptcy attorney so you receive the best protection possible.
bankruptcy attorney peabody ma
good post.....I appreciate yor way of writing that make the blog attractive and make reader to hold longer to your blog.
ReplyDeletebankruptcy attorney peabody ma
Milwaukee Bankruptcy Attorney is stable in giving quality service regarding bankruptcy issue. This company will stay as long as we need their help. Law firm that you know that will help you in times of need.
ReplyDeletehttp://burrlawoffice.com/