Not every individual in financial distress needs to file for bankruptcy to reorganize their finances. However, when suitable – bankruptcy can provide a fresh start.
Bankruptcy claims are filed in the Federal Court System as a solution to insolvency. There are various types of bankruptcy and reviewing your finances, assets, and delinquencies with a qualified and experienced attorney can help you determine the best course of action to resolve your financial issues.
Several of the most well known types of bankruptcies are Chapter 7, chapter 11, and Chapter 13, bankruptcies. A Chapter 7 bankruptcy is filed by an individual and a trustee assigned to the case assists in determining which assets will be liquidated and which are exempt in paying off debts and creditors. In a Chapter 13 bankruptcy, the individual expects to have future income allowing him to pay off debt within a 3-5 year time period. Under supervision of the court, finances are re-organized and a payment schedule is devised.
Cloon Legal Services, P.C., offer legal services in bankruptcy. We welcome the opportunity to discuss your financial issues, bankruptcy questions through a free, no obligation consultation. Please call our office to arrange an initial free consultation.
Do you have any bankruptcy questions? schedule a free consultation, please call Cloon Legal Services, P.C. today!
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Feel free to Call us at 785-229-0477
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Disclaimer: Cloon Legal Services, P.C. is a Debt Relief law firm as defined by 11 U.S.C. 528. We help people file for Bankruptcy Relief under the Bankruptcy Code.The information contained on this website is not to be construed as legal advice. It is not intended to solicit or form an attorney-client relationship. We do not guarantee any result and prior results do not guarantee a similar outcome. This is an attorney advertisement and this website is for informational purposes only.