Is Bankruptcy Right For You?
Are the Creditors Driving You Crazy? Stop Them In Their Tracks!
If the recent economic situation has left you overwhelmed with debt and continuously harassed by creditors, bankruptcy might be a good option for you. We can help you determine whether bankruptcy can help you, and which type of bankruptcy works for you.
The First Step:
Once you contact Skilled Law, LLC and let us know that you're considering filing for bankruptcy, we will ask you to fill out a detailed form, listing out all your assets, income, and expenses so that we can determine which type of bankruptcy would work for you. The two main types of bankruptcy for consumers are Chapter 7 Liquidation, and Chapter 13 Reorganization.
Chapter 7 Liquidation
Chapter 7 bankruptcies are the fastest method but are only available to people with an income under the median for the area (median amounts are set by the bankruptcy courts). If you qualify for Chapter 7 bankruptcy, Skilled Law will ask you to gather the required documentation and then file the petition on your behalf. As soon as the petition is filed, an Automatic Stay will be issued by the court, ordering creditors to cease communications with you. You will have to take an online class and then attend a 341 hearing with our attorney in court. After the hearing, if no adjustments or corrections are needed, you can usually expect a discharge of all qualified debts in a few short months. There are some debts that don't qualify, but your attorney will go over that with you before you file.
Chapter 13 Reorganization
If you don't qualify for a Chapter 7 because of income or assets, Skilled Law, LLC can help you determine if a Chapter 13 Reorganization bankruptcy is right for you. A Chapter 13 bankruptcy requires your attorney to come up with a 3 to 5 year plan to reorganize your debt. Filing will still keep creditors from harassing you, and some of your debt will still be discharged, but reorganization requires you to make a monthly payment to the court throughout the bankruptcy process. Contact us today and we can discuss your options.
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