CHAPTER 7 BANKRUPTCY
What is a Chapter 7 Bankruptcy?
A Chapter 7 is also called a liquidation in that most of the debts of the debtor are
dissolved and the creditors are not allowed to continue to collect the debt. In a chapter 7 bankruptcy the debtor may elect to retain certain property (i.e. vehicles, home, furniture etc.) Or to discharge the debt.
Does my spouse have to file?
No, not in all cases.
Do I have to go to court?
You will have to attend a brief meeting with your creditors. This meeting last less than thirty minutes. This also applies to Chapter 13 filings.
When does the Chapter 7 end?
You will receive a discharge of your debts within 60 to 90 days of the meeting with of your creditors.
CHAPTER 13 BANKRUPTCY
What is a Chapter 13 bankruptcy?
A chapter 13 Bankruptcy is a way that you stop your creditors collection activities and pay some or all of your indebtedness to them on terms that are often easier than those that most creditors will offer to you. You may be able to keep some of your property at a reduced payment per month.
How much will my Chapter 13 payments be every month?
It depends on the amount of debt that you have and the amount of property you are trying to keep. It also depends on the number of months that your Chapter 13 plan is scheduled. The plan can go up to 60 months depending on the amount of the debts and your ability to repay them.
How do I pay into the Chapter 13 Plan?
A trustee is assigned to your case by the Bankruptcy Judge. The Trustee will issue a wage order to your employer who will pay the monthly payment to the Trustee. The Trustee will then pay your creditors their monthly payment.
Credit Cards out of Control?
Credit card statement have a way of ruining your day at best and destroying your relationships at worst. With the high interest on credit cards it may never be possible to pay them off.
Bankruptcy can get those payments under control or may just wipe the debt out completely. It's time to get out of the trap.
Bankruptcy Can Stop
Has the word Garnishment entered you life? Are you stressed out from Debt? Are you laying awake at night worrying about how you are going to pay your bills?
In some cases student loans can be discharged in Bankruptcy Call us to see if we can help you.
Has your car or truck been repossessed? Are you saying, they repossessed my truck, or I need to get my car back. What you need is a Bankruptcy lawyer in the Jackson Mississippi area on your side.
Are you saying to yourself, "they took my money or they garnished my wages, or they garnished my checking account, I need a lawyer." Bankruptcy can stop Garnishments.
Bankruptcy may be the Answer
Are you being sued for medical bills, a car you don't have anymore or some other debt. People come in and say "I got papers what do I do?" We are here to help you understand what your options and rights are."
We are one of the few firms that prepare
Chapter 11 (Business) Bankruptcies
Garnishment? Medical Bills?
Foreclosure? Credit Card Debt?
Richard F. Dean, PLLC has for over 20 years experience solving your problems!
Come see and find out why we get so many referrals from our former clients and why our clients love us!
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Is your business in trouble? Do you need debt relief and a chance to reorganize your business?
A Chapter 11 bankruptcy can give you breathing room by reorganizing your debts and taking your business form the red into the black.
We can help. Call us for a free confidential bankruptcy analysis with a bankruptcy attorney if:
• You are behind on your home or vehicle payments.
• You are behind on credit cards or other installment payments.
• Your business is behind in payments
Repossession can be stopped! Is the bank foreclosing on your home? Your home can be saved!
Once a Bankruptcy is filed, the collection process has to stop. We can save your house or your vehicle.
Medical bills are the number one reason that people get into financial problems. Did you get sick and can't work? Or, did someone close to you get sick and the medical bills are pilling up? Bankruptcy may be what the doctor ordered to get you back on your feet.
Debt Relief through Bankruptcy
The mortgage company has started foreclosure proceedings, my wages have been garnished, my vehicle has been repossessed. I can't afford to pay any of these debts. Is there any help to stop these creditors?
Yes, there is relief available under the United States Bankruptcy Code.
You can get some breathing space by filing a Chapter 7 or Chapter 13 Bankruptcy.
Richard F. Dean, PLLC
Concentrating in Tax and Bankruptcy