If you face lawsuits or judgments because of the debts you cannot pay; we are here to help. If you are getting tired of the constant debt collector calls and cannot pay your bills, these are some options that you should consider.
Chapter 7 discharges all of your unsecured debts with a few exceptions for debts such as student loans and child support. If you have assets that are unnecessary for your health and welfare there is a possibility that those assets will be sold to repay your creditors before you receive a discharge of your debts. In order to be eligible to file Chapter 7 you must meet income eligibility requirements.
Chapter 13 is a 3 or 5 year income based repayment plan for individuals and married couples. If you have too much income to be eligible for Chapter 7, or if you need to catch up on missed mortgage payments, repay income tax debt, or prefer to repay your creditors in installments rather than have certain property at risk of liquidation, than Chapter 13 may be a good option for you.
This type of bankruptcy a reorganization for businesses as a way to repay creditors while maintaining operations. If you are thinking about filing for Chapter 11 bankruptcy, you need to speak to one of our attorneys, who will help you plan how to file for this type of bankruptcy.
Please feel free to call us or email us at any time to see how we can assist you in your current debt crisis.