When to file bankruptcy
How to file bankruptcy
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Is your life turned upside down because of too much debt? Are you facing a foreclosure? Are you being harassed by debt collectors? Even if you have filed for bankruptcy within the last eight years, we can help you find the debt relief you need. We are a debt relief agency. We help people file for bankruptcy under the bankruptcy code.
When so much is at stake, you need a team of experienced bankruptcy attorneys on your side who will evaluate your financial situation and provide real solutions. At Arentz Law Group, we have a highly qualified bankruptcy division that can assist you in determining whether bankruptcy is a viable option and represent you throughout the entire bankruptcy process should you elect to file. In some cases, we can also negotiate with your creditors to reduce your debt as an alternative to bankruptcy. Our bankruptcy attorneys are committed to providing you with valuable information, services, and advice to ensure a better financial future.
In these difficult financial times it is more important than ever to understand your options under the United States Bankruptcy Code. Notwithstanding substantial modifications to the Bankruptcy Code made in 2005, your rights, and the bankruptcy process, are fundamentally the same.
The following is a brief overview of your rights and the bankruptcy process. Please review this information and then contact Arentz Law Group at 1-800-710-4000 or simply submit a case evaluation form and we will get started on your case today. We look forward to helping you understand how to file for bankruptcy.
Types of Bankruptcy
Chapter 7 Bankruptcy
There are two main types of consumer bankruptcy cases; the most common is Chapter 7. In a Chapter 7 case the debtor will receive a complete discharge of their unsecured debt. In exchange for the discharge, the debtor must surrender any of their non-exempt assets to the bankruptcy trustee. Fortunately, in the majority of cases most of the debtor's property can be retained under state exemption laws. The most common debts that are eliminated in this type of bankruptcy are credit card debt, repossession deficiencies on vehicle loans, and medical bills.
Chapter 13 Bankruptcy
The second type of consumer bankruptcy is Chapter 13. A Chapter 13 debtor will generally receive a partial discharge of their unsecured debts as a result of establishing a three to five year consolidated repayment plan through the bankruptcy trustee. However, under Chapter 13 a debtor may be able to retain property that could otherwise have been lost in Chapter 7. More importantly, for some, a Chapter 13 filing can stop a home foreclosure, repossession of a vehicle, or garnishment of wages.
We Can Help!
There are many factors to consider in determining which type of bankruptcy to file. At Arentz Law Group, we will help you decide whether a Chapter 7 or Chapter 13 is best for you. If your world has been turned upside down because of the recent economic turmoil, let us help you get the debt relief you need. Bankruptcy is about starting over and our bankruptcy attorneys can help you get your financial situation turned around.
Call us right now or submit a bankruptcy evaluation form. We are available 24 hours a day, seven days a week and you will hear back from us in 30 minutes.