The Law Office Of Dana Bruce

Bankruptcy can be a complicated process, with laws that vary from state to state. If you're considering filing for bankruptcy, a qualified attorney can walk you through your choices and help you negotiate with your creditors.

Are you worried that filing for bankruptcy will mean you have to get rid of your furniture or other property? Not necessarily. During bankruptcy, there’s a certain amount of non-secured personal property that can be exempt from the proceedings so you can keep it.

If your business is in financial trouble, hiring an attorney with a long history of success with business bankruptcy makes sense. Even if your business is not incorporated, you need an attorney skilled at liquidating a business and not in civil proceedings.

Filing bankruptcy can help clear much of your debt load, but some types of debt are unaffected. These include alimony, child support, taxes, fraudulent transactions and similar issues, but consult an attorney to determine how the exemptions may affect you.

For many debtors, filing Chapter 7 or Chapter 13 bankruptcy is actually the beginning of the process to improve their credit. By the time many people file bankruptcy, their credit picture is already significantly flawed.

You can keep your car, your home, and other personal belongings when filing for bankruptcy. You can even rebuild your credit immediately afterward. We will show you the steps to take immediately after your bankruptcy to get back on your financial feet.

In a chapter 13 bankruptcy filing, you can keep all of your property if your bankruptcy plan meets the requirements of the law. However, you will need to continue making payments despite your bankruptcy status.

The problem with many kinds of revolving debt is that even making regular payments above the minimum amount due can still lead to substantial monthly interest charges. If you need a fresh financial start that won’t keep you crushed under interest and finance charges, a bankruptcy could be the answer.

You may be a candidate for a chapter 7 bankruptcy if you have a large amount of unsecured debt (i.e. credit card debt or medical expenses) that you are no longer able to pay. A chapter 7 filing allows you to seek protection from creditors.

Did you know there is a federal law that makes it illegal for creditors to make calls or other efforts to collect a debt once debtors have been informed a bankruptcy has been filed? In fact, if debtors continue with harassing phone calls and personal visits, they face potential fines.

It’s important to understand that not all of your debts are discharged when you file for bankruptcy. Rather, the process of bankruptcy works to redesign your debt, so that it is easier for you to pay off in the future.

The bankruptcy laws in some states include a homestead exemption. This means that even in a Chapter 7 bankruptcy, where your assets are being liquidated to pay off creditors, you can still keep your home if your equity in it is below a certain threshold.

Are you concerned that filing for bankruptcy will change the way your family, friends, and coworkers view you? Remember, you’re under no obligation to tell people who don’t have a material need to know. If you aren’t sure whether you’ll need to notify your employer, we’re always available to discuss it.

Have you missed payments on your mortgage? Unlike other debts, bankruptcy doesn’t automatically discharge debts or liens on property. However, bankruptcy can stop or substantially delay foreclosure on your property so you have a chance to catch up on missed payments.

The national mood about bankruptcy changed significantly during the Great Depression, when a majority of Americans found themselves in financial trouble because of the collapsed financial market and high unemployment.

Have recent changes in health insurance laws left you without insurance and unable to afford it on your own? The problem might actually be with your existing debt. Bankruptcy can manage or eliminate that debt so you can get health insurance again.

If there is a divorce with divided debt, assets, and property, it does not prevent filing for bankruptcy. A qualified attorney can advise you on how your situation is addressed in bankruptcy filings, the information you need to provide, and what you can expect.

As with all legal processes, filing for bankruptcy can be a convoluted and lengthy process when you’re going it alone. Working with an experienced bankruptcy attorney can help to take much of the stress and worry out of the process.