Struggling with Debt? Need a fresh financial start? Bankruptcy may be the best path to eliminate your debt and set you up for a successful financial future.
Debt worries are a terrible burden to carry. Wouldn’t you like to:
Perhaps you are like many others who have lost their job, maxed out their credit cards, are behind on their mortgage payments or have little or no savings. My office can help. We provide advice and representation throughout the entire bankruptcy process. At the Schindler Law Office, we will examine your income, expenses, debt and specific circumstances to determine whether a Chapter 7 or a Chapter 13 bankruptcy would be beneficial to ease your financial burdens.
Most debts, with the exception of taxes, student loans, child support, alimony and criminal fines can be discharged or have payments extended under Chapter 7 or Chapter 13 bankruptcy.
Chapter 7 is known as a liquidation bankruptcy in which most unsecured debts are discharged without the requirement of a repayment plan. Under a Chapter 7, you can discharge debts from credit cards, medical services, civil judgments, auto accident judgments, utilities and cell phones. Chapter 7 is also a great way to terminate expensive car loans, apartment leases and mortgages if you desire to end those obligations.
An “automatic stay” is ordered as soon as you file for bankruptcy. The automatic stay will place a hold on all collection activities, harassing creditor calls, wage garnishments, home foreclosure proceedings, evictions and repossessions or seizure of your assets. Most people who file for Chapter 7 will keep all of their property because of the generous exemptions allowed under the Bankruptcy Code. The exemptions protect your property or specific amounts of equity in your property.
A Chapter 13 is a reorganization bankruptcy that allows you to propose a repayment plan in which you repay a percentage of your debt to your creditors with the assistance of the bankruptcy court. You may choose a Chapter 13 repayment plan if your income is too high for Chapter 7 relief. Chapter 13 will allow you to save your home from foreclosure and eliminate a second mortgage or home equity lien on your home.
A typical Chapter 13 repayment plan will last for 3 to 5 years and will provide you automatic protection from your creditors allowing you to become current on your obligations without the worry of creditor action. How much you pay and how many years your plan will be is determined based on certain factors such as your monthly income, type and amount of your debt and the value of assets you presently own. My goal is to put together an organized plan of repayment that you can afford.
The Schindler Law Office can help you take your first positive step toward a new financial beginning by exploring if bankruptcy protection is a good fit for you.
WE ARE A DEBT RELIEF AGENCY. WE HELP PEOPLE FILE FOR BANKRUPTCY RELIEF UNDER THE BANKRUPTCY CODE.
Michael D. Schindler, Attorney & Counselor at Law. Call today to protect your legal rights. 440-230-1799