In many cases, burdensome debt is the result of unforeseen expenses like an expensive car repair or home maintenance bill – or worse yet, a medical emergency or loss of employment. And once upon a time, you may have had the money to take your family on a vacation and pay off the credit card bill when it arrived, only to have the economy take an unexpected tumble.
Continue reading to find out everything you need to know about bankruptcy as it pertains to your situation. Once you’re ready to move onto the next step, you can all our office to arrange a free consultation, or visit our consultation page to send us a message.
Debt Relief Starts By Learning About Your Options
Chances are, you have some information about bankruptcy and may find it confusing. You have questions about what assets you can keep, which debts can be eliminated and which ones can’t, how to file and even which chapter to file. When you contact us, we will start by hearing your story and getting information about your debts and your current financial situation. Then, we can talk about your best course of action, whether it is:
- Chapter 7 bankruptcy, in which you may be able to eliminate much of your debt and get a fresh start
- Chapter 11 bankruptcy, which is often associated with business bankruptcy, but also allows individuals with significant assets to reorganize their debt
- Chapter 13 bankruptcy, which allows you to eliminate some debt and create a plan in which the rest is paid back in three to five years
For each of the above chapters in bankruptcy that you end up filing in, you will be required to attend a 341 meeting of the creditors in order to finalize your eligibility.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is often called the fresh start option because it allows you to wipe out most or all of your unsecured debt, including medical bills, credit card bills and utility bills. It offers individuals immediate relief from creditors.
- Chapter 7 Bankruptcy
Chapter 11 Bankruptcy
Chapter 11 is a form of debt reorganization used by businesses to allow them to keep operating under a debt repayment plan.
Chapter 13 Bankruptcy
Even if you don’t qualify for Chapter 7 bankruptcy, you still have options with Chapter 13 Bankruptcy. A Chapter 13 allows you to create an affordable plan that allows you to reduce your overall debt and repay it over a three- to five-year period.
Bankruptcy For Small Businesses
If you’re a business owner and are drowning in debt, you have quite a few options that will help you. You can consider chapter 7, chapter 11, and chapter 13 bankruptcy depending on your particular situation. Speak with an attorney to discuss your needs and the solution.
Stop Harassment and Legal Actions Against You
When debt collectors are calling, you are facing foreclosure or your business is in the red, your most pressing concern is to protect your valuable assets. At this time, it is critical to work with an experienced lawyer who understands bankruptcy and other debt relief options that can meet your needs. Even before you decide to declare bankruptcy, we’ll be able to put an end to the creditor harassment you’re experiencing. Collection calls, collection letters and harassing communications of all kinds will be put to an end once we begin handling your case.
- Asset Protection
- The Automatic Stay
- Avoiding Wage Garnishment
- Stopping Repossession
- Stop Creditor Harassment & Collection Calls
Foreclosure is something everyone wants to avoid. Most people will do anything they can to save their homes. If you are dealing with insurmountable debt and considering bankruptcy or other options for stopping foreclosure on your home, it is important to talk with an experienced lawyer who can help you consider the options available to you.
- Preventing Home Foreclosure
Marriage, Divorce & Bankruptcy
If you’re considering declaring bankruptcy, you may have some questions about the procedures involved in bankruptcy when you’re married or going through a divorce. The following information will help you understand some of the laws and procedures in these particular situations.
- Bankruptcy & Divorce
Obtaining Debt Relief
You may have considered bankruptcy, but may have worries about how it will impact your life. Before you decide, make sure you get the facts about what it can and cannot do. It may be a good option for you, but other options may work as well.
Common Bankruptcy FAQs
Read other common questions and topics about bankruptcy below.
- Common Bankruptcy Related FAQs
For many people dealing with insurmountable debt, the feeling is that bankruptcy is the only option. This notion is often perpetuated by various law firms and attorneys who make a practice of leading every debt relief client through bankruptcy, without ever taking the time to truly understand each client’s unique situation or considering the alternatives available. It is important to work with a lawyer whose most pressing goal is not taking you through the bankruptcy process, but helping you. As a Hartford, Connecticut, bankruptcy attorney, Ronald Chorches can also advise you on foreclosure defense, and discuss the myths surrounding debt consolidation schemes.
- Alternatives to Bankruptcy
Let Our Bankruptcy Firm Help You!
At the Hartford, Connecticut, The Law Offices of Ronald I. Chorches, we are experienced bankruptcy attorneys who have helped thousands of people overcome their financial worries. We are not here to judge you. We are here to help you.
For a free bankruptcy consultation, contact us online or call The Law Offices of Ronald I. Chorches at 860-563-3955. We have offices in Wethersfield and Winsted, and are easily reachable from the cities of Hartford, West Hartford, East Hartford and Manchester.