The United States Bankruptcy laws help those who face serious financial difficulties get their life back on track. A Chapter 7 Bankruptcy may be a relatively quick option for those with low income to manage their debts and start over. It can help you discharge unsecured loans, leaving you with a fresh start to rebuild your credit. Depending upon your assets, you may be able to obtain a discharge without having to sell any of your personal belongings, your car, or your home. A Chapter 13 Bankruptcy is designed to help those with more income, but still not able to meet their financial obligations. It can help those who are behind on the car or home payments save their house or vehicle. This type of bankruptcy involves a payment plan over a period of three or five years.
Filing a bankruptcy without an attorney can be a daunting task, and statistics show that hiring an attorney can increase your success rate by more than 30% in Chapter 7 cases and 50% in Chapter 13 cases. The forms and schedules are complicated and the filing deadlines are strict. If you don’t follow all the rules properly, you could face an automatic dismissal of your bankruptcy petition. The local Federal Bankruptcy Court is focused on ensuring that all applicants are qualified and that all debtors comply strictly with the bankruptcy rules and regulations.
Our attorneys understand the forms and documents you will need to give you the best chance of getting your bankruptcy approved on the first try. Collins & Hyman can help you understand which bankruptcy is right for you and can assist in collecting, preparing, and filing the necessary paperwork. We offer free consultations where we can fully explain how we can go to work to give you a fresh financial start in life