Larceny legal services

Larceny legal services

Sometimes when financial struggles are insurmountable, the only solution is to file for bankruptcy. Bankruptcy is an opportunity to clear the slate and get legal assistance for a fresh financial start.  Sometimes settling debts outside of bankruptcy is an option, however there are many questionable “debt settlement” companies out there. These companies require up front “fee” payments which are non-refundable, even if they fail to reach settlement with your creditors. An experienced bankruptcy attorney will have credibility when informing your creditors that if a settlement cannot be reached, a bankruptcy notice will be forthcoming. Many bankruptcy attorneys will try non-bankruptcy debt settlement before filing a bankruptcy case on your behalf. Acquiring a competent bankruptcy legal service will help you assess when debt settlement might be an option and inform you as to what steps are necessary to file.

Bankruptcy Process

Chapter 7 Bankruptcy is the most common form of bankruptcy. It is a liquidation proceeding in which the debtor’s non-exempt assets, if any, are sold by the Chapter 7 trustee and the proceeds distributed to creditors. Individual debtors typically get a discharge within 4-6 months of filing the case. Assets that are non-exempt are taken over by the trustee, who sells them and pays creditors as much as the proceeds permit. Any wages the debtor earns after the case is begun are the debtor’s, and the creditors have no claim on those earnings. A bankruptcy attorney can advise you regarding which of your assets will be exempt from liquidation, and what you can expect for the future. Chapter 13 is a repayment plan for individuals with regular income, unsecured debt less than $336,900, and secured debt less than $1,010,650. The debtor keeps his property and makes regular payments to the Chapter 13 trustee out of their future income to pay off their creditors over time (typically 3-5 years). Repayment in Chapter 13 can range from 1% to 100% depending on the debtor’s income and the type of the debt. Chapter 13 also provides a way for bankrupt individuals to avoid foreclosures and repossessions. In certain circumstances, debtors can reduce the balance of loans on vehicles and discharge second mortgages or home equity lines of credit. It is not recommended that you file bankruptcy without the assistance of an attorney, as the bankruptcy process is complex. Based on the factual and legal complexity of your case, a qualified bankruptcy attorney will be able to offer you a customized solution to your situation.

Related Posts
Zoning laws – Avoid Zoning trouble
The primordial rule for business location is to never sign a lease for a business zone or space if you are not yet completely sure that you are legally allowed ...
READ MORE
Legal help in Short Sale or Deed in Lieu of Foreclosure
A short sale and a deed in Lieu of Foreclosure are the best options if you want to give your home up, but don’t want foreclosure. These options let you ...
READ MORE
Medical records are important
Personal injury lawsuit is very expensive and time consuming legal endeavour. This type of lawsuit involves monetary claims for damages incurred by the victim as well as for the injuries ...
READ MORE
Landlord duties
If you’re a new landlord you have to know that being one is no simple matter. Aside from the identity of you tenants, you also have to be aware of ...
READ MORE
declaring yourself bankrupt?
When you are neck deep in your debts and there are creditor’s threats looming and lurking around ready to take your assets and leave you with nothing, you may need ...
READ MORE
Drunk Driving
Drunk Driving is the act where in the driver drives the vehicle under the influence of alcohol or drugs. This is to such an extent that the person does not ...
READ MORE
Contracts of lease
Contracts of Lease is a common bilateral agreement between the Lessor (the landlord), the party who leases a space or a property for a fee (more popularly recognized as rents) ...
READ MORE
How to get workers compensation lawyer
For those of you who are in job need to have a clear idea about what you as an employee are liable for. And by this aspect it does not ...
READ MORE
Legal help while selling your home
Selling a home can bring up a lot of issues and could easily become a maze of processes. To make sure that you get your home’s worth, it would be ...
READ MORE
Driving license suspension: Know how your driving license can be suspended
Driving is not just a right, it is actually a privilege. A lot of people are not concerned about losing their license when they speed up and cross a stop ...
READ MORE
Zoning laws – Avoid Zoning trouble
Legal help in Short Sale or Deed in
Medical records are important
Landlord duties
declaring yourself bankrupt?
Drunk Driving
Contracts of lease
How to get workers compensation lawyer
Legal help while selling your home
Know how your driver license can be suspended