A successful petition for either Chapter 7 or Chapter 13 bankruptcy puts an automatic stay into effect. From the moment your bankruptcy is accepted by the courts, creditors and bill collectors are prevented from contacting you via phone, e-mail or letter. Foreclosure proceedings, repossessions and garnishments are also halted under the automatic stay, allowing you to focus on your bankruptcy rather than the distractions surrounding it.
Answers and Guidance
Commonly referred to as a "wage-earner" bankruptcy, Chapter 13 allows for the creation of a debt repayment plan that gives you the opportunity to catch up on your financial obligations. The repayment plan lasts between 3-5 years and is designed to fit easily into your budget. After completion of all payments, any remaining unsecured debt is discharged, allowing you to begin rebuilding your financial standing.
At the law firm of Mitchell & Cunningham, P.C., our Chapter 13 bankruptcy lawyer, Kimberly Bowling, is committed to providing informative Chapter 13 understanding and guidance to individuals, families and businesses facing overwhelming debt. We work to answer any questions you may have on the Chapter 13 process, including:
Chapter 7 bankruptcy, often referred to as "liquidation bankruptcy," offers debt relief benefits to individuals and families facing overwhelming debt related to high credit card balances, personal loans, and lines of credit. In addition to discharging unsecured debts, filing for Chapter 7 also immediately ends the harassing calls from bill collectors and threatening letters from creditors it also puts an end to foreclosure proceedings. Under the Chapter 7 process, typically all property is protected. However, certain non-exempt assets can be liquidated or sold, allowing the bankruptcy trustee to pay some of your debts. Any remaining debt is discharged.
At the law firm of Mitchell & Cunningham, P.C., our Chapter 7 bankruptcy attorney, Kimberly Bowling, is committed to providing detailed and helpful advice on Chapter 7 and how the process can impact your unique financial situation. After carefully examining your financial situation and your goals, we work to answer your many questions regarding the process.
Eligibility for a Chapter 7 bankruptcy filing is determined by a means test; a set of questions that examine your debts, income, and essential expenses. The test is designed to determine if you have the ability to pay your obligations. If you face overwhelming debt and do not have the income to cover it, it is very likely that you will qualify for a Chapter 7 filing.
After meeting with us for your free consultation, the next step is gathering all of the necessary documents needed to complete the bankruptcy petition. Vital documentation includes recent pay stubs, tax returns, and any account information pertaining to your debts.
At your second appointment, Kimberly Bowling will help you complete the Chapter 7 application, carefully explaining which of your assets are exempt from the process. She will and take great care in answering questions and how it relates to your unique situation. Once the paperwork has been completed, we will file it with the courts as quickly as possible to put an end to creditor harassment and provide you peace of mind.
Once the court examines your petition for bankruptcy, a meeting of creditors will be scheduled. We will appear with you at this meeting to address any creditor disputes and to guide you through the meeting.
Bankruptcy does not allow for the discharge of student loans, certain tax obligations, or child support payments. However, most unsecured debt is dischargeable, such as check cashing debt, payday loans, credit card debt, medical debt, car loan deficiency balances, and other types of debt.