We are a debt-relief agency under the United States Bankruptcy Code.
We help people file for bankruptcy relief under the bankruptcy code.
The stated goal of federal bankruptcy law is to provide the honest debtor with a fresh start. Personal bankruptcy is a proceeding in which a court administers the estate (property and other assets) of a debtor for the benefit of creditors.
A debtor is a person or business who owes money to others. A debtor may choose to file bankruptcy to resolve a hopeless financial situation or to put off the collection of debts for a period of time to allow for financial reorganization. Note that personal bankruptcy has lasting effects on your financial history for years after you file. You may be turned down for loans, get loans at a higher interest rate and more. Bankruptcy should be a last resort to solve your financial issues.
Chapter 7 is also known as “straight” bankruptcy. This type cancels most of your debts. However, you may have to surrender some of your property to pay off your creditors. A bankruptcy trustee, appointed by the court, will meet with you, go over your paperwork and determine which property can be sold to pay off your debts and to help prioritize creditors. At the end of the process, all of your debts are discharged.
Chapter 13 offers individuals with a steady income the opportunity to repay their debts and keep their assets. In addition, the total amount of the debt to be repaid may be reduced by as much as 90 percent. The court supervises and approves the individual’s bankruptcy petition and the proposed plan for debt repayment.
The experienced bankruptcy attorneys at McManus Law Firm will help you put your financial difficulties behind you. They will review your specific situation with you, discuss the options that are available to you and assist you in making the decision that makes the most sense for your particular situation.
Don’t delay! Contact our office today to schedule your free initial consultation to get you on the road to financial recovery.