Personal Bankruptcy Done Right.
We provide guidance and services for individuals looking to file for personal bankruptcy.
We understand that the decision to file for bankruptcy can be difficult, and we're here to help you navigate the process with ease. Whether you're facing overwhelming debt, unexpected medical expenses, or a job loss, we're here to provide you with the tools and resources you need to regain control of your finances.
Contact us today to learn more and take the first step towards a brighter financial future.
Types of Personal Bankruptcy
Chapter 7 bankruptcy is a liquidation bankruptcy that allows individuals to eliminate unsecured debt, such as credit card and medical bills.
Eligibility for Chapter 7 is determined by the “means test,” which compares income to the median income for the state.
Certain assets, such as a primary residence and personal property, may be protected from being sold to pay off creditors.
The process typically takes 4–6 months to complete, and a trustee is appointed to oversee the sale of non-exempt assets.
After the completion of a Chapter 7 bankruptcy, the individual receives a discharge of eligible debt and can start the process of rebuilding their credit.
Chapter 13 bankruptcy is a reorganization bankruptcy that allows individuals with a regular income to repay debt over a 3-5 year period.
Eligibility is determined by the amount of debt, with a maximum limit on secured and unsecured debt.
In Chapter 13, the individual proposes a repayment plan to repay a portion of their debt over the 3-5 year period, with the balance being discharged at the end.
Chapter 13 helps individuals keep their property, including homes and cars, by allowing them to catch up on missed payments over time.
The individual must have a consistent income to be eligible for Chapter 13 and must comply with the terms of the repayment plan for it to be successful.