We work directly with clients as a bankruptcy attorney and personally file petitions for them. For a free initial consultation to discuss bankruptcy, contact Robert A. Siegel with ZSTS.
Some debts you cannot discharge through bankruptcy include recent tax debts, child support payments, alimony, personal injury or wrongful death debt payments based on driving while under the influence of alcohol or drugs, student loans, and criminal restitutions or penalties. Otherwise, bankruptcy gets rid of the debts you list in your bankruptcy filing.
Chapter 7 involves liquidation of assets to pay off debts. Only people who meet income requirements may file for Chapter 7. Chapter 13 requires that people have a stable income source and sets up a payment plan over a three- or five-year period to pay off debtors. No income limits exist for filing for Chapter 13. However, individuals whose secured and unsecured debts exceed certain amounts are not eligible for Chapter 13. There are no debt limits for filing for Chapter 7.
Yes, in Chapter 7, certain assets are exempt and not sold to pay creditors. Exemptions vary depending on the state where you live. Many people keep their assets by filing for Chapter 13, which does not involve asset liquidation.
Based on your type of debt, income stability and assets, bankruptcy attorneys can advise which bankruptcy chapter would benefit you the most.
Yes, there are many ways to start rebuilding credit once bankruptcy is over.
Unless you are well-known and subject to the media, it is unlikely that anyone besides your creditors will know you filed for bankruptcy.
Robert A. Siegel with ZSTS, is a debt relief agency as described in the federal Bankruptcy Code. This law firm helps people file for bankruptcy relief under the Bankruptcy Code.