If you and your family face financial difficulties and your debt is out of control, this can lead to some of the most stressful times in your life. The stress and anxiety of dealing with overwhelming debt is something many people are dealing with, and we understand your situation as well as the solutions available to you.
Filing for Bankruptcy can provide you a much-needed financial fresh start. The benefits afforded to you as a consumer by the United States Bankruptcy Code can eliminate many of your debts and reset your finances. If you are having a hard time making ends meet, then Greenstone Legal Group can help you explore your debt relief options relating to Bankruptcy.
An Overview of Bankruptcy
While many forms of bankruptcy relief apply to consumer debt, the most common types that would apply to cases we assist with are Chapter 7 and 11 Bankruptcy.
Bankruptcy can discharge common types of consumer debt such as credit cards, unsecured loans, medical debts, lawsuit judgments, and many other liabilities. Unfortunately, not every type of debt will be able to see relief. These include debts such as alimony, child support, government fines, certain tax debts, and liabilities that have resulted from illegal activity such as driving while intoxicated. Our advisors will explain all of this in detail and work with you to develop a plan that provides the most amount of debt relief possible while protecting eligible assets exempt from the bankruptcy filing process.
Chapter 7 bankruptcy
Is for individuals and couples who do not have significant extra income at the end of each month and those who do not have significant assets aside from what they need to live. A chapter 7 bankruptcy case typically takes 3-5 months to process, and at the conclusion of the case an individual is granted a discharge. This means all their debt is legally forgiven. In a standard chapter 7 case, the individuals do not lose any property, and they are not required to make any payments on their debts.
Chapter 13 bankruptcy
Is frequently called a “reorganization” bankruptcy. When you go through the Chapter 13 bankruptcy, a plan to restructure your payments to the creditors, which is more manageable for you, will be developed and filed. This plan of reorganization typically lasts for a period of 3 to 5 years. A chapter 13 filing can help you save your home from foreclosure or stop your vehicle from being repossessed. Chapter 13 bankruptcy law also allows for the possibility that many creditors do not need to be paid in full.
How Bankruptcy Benefits You
Bankruptcy has negative associations in many people’s minds, but it is not a crime to fall into financial difficulties, and many people have restarted their financial futures using Bankruptcy Law. Our government understands that individuals’ financial stability sometimes collapses, and they need another chance.
When you file Bankruptcy, you will receive the protection of an “automatic stay.” This prevents creditors from contacting you in any way until the bankruptcy court submits your final discharge order. Your life after Bankruptcy is highly likely to be better than it is now, and it is even possible to receive offers from some companies to help you rebuild your credit.
Greenstone Legal Group Bankruptcy Filing
We offer a free case evaluation with one of our knowledgeable advisors who can determine which, if any, bankruptcy type is best for you and what other options may be available.
Once we understand your situation and your options, we will handle all aspects of your application to ensure you are protected to the full extent of the law while receiving the most debt relief possible.
Contact us now and determine if Bankruptcy is right for you.
