Chapter 7 Bankruptcy Attorneys In Arkansas

July 3, 2024, 1:23 am

Please call us at 501-378-7700 or toll-free at 800-535-000 1. In Chapter 11, an individual or business may be able to negotiate new agreements and payment schedules with creditors. In order to file for Chapter 7, individuals must qualify under the "means test. " At The Lancaster Law Firm, we use our knowledge of the Bankruptcy Code to help people find solutions to their debt problems. I couldn't have asked for better help. You can set up a free bankruptcy consultation by calling us at 501. There are certain debts that cannot be discharged in bankruptcy. In Arkansas, a Chapter 7 bankruptcy is the easiest and quickest way to legally wipe out your debt. Third party debt collectors such as collection agencies are prohibited from employing deceptive or abusive tactics in attempting to collect a debt. You may be pleasantly surprised to learn that it is usually possible to eliminate all of your unsecured debt while keeping your property.

Chapter 7 Bankruptcy Attorneys In Arkansas State

If you're behind on payments for a property you want to keep, such as your mortgage or automobile loan, Chapter 13 might be the best option for you. Object to any claims made against you by creditors. The court will then appoint a trustee to oversee your case. However, it is important to understand that bankruptcy is a legal process with serious consequences. The Lancaster Law Firm is here to help you navigate the confusing bankruptcy process. Before filing for Chapter 7 bankruptcy, it's important to learn if this option makes the most financial sense for you.

Also known as "liquidation bankruptcy, " Chapter 7 involves a court-appointed trustee liquidating, or selling, some of your assets to repay some of your debts. Nearly 9, 000 Arkansas individuals and couples filed for Chapter 7 bankruptcy last year. There is a limit on the amount protected, but most folks fall well below that limit. If you are in debt and thinking of filing or have filed for bankruptcy protection, you need to stop and think about whether you owe a bank any money as a creditor. Household items including appliances, furniture, etc. Access Legal Care, PLLC offers cheap and affordable legal services, while providing high-quality, effective, and caring legal care. The attorneys at wh Law have extensive experience representing clients in all types of bankruptcy proceedings. If filing bankruptcy isn't your best option, we may be able to help you lower your monthly credit card bills by negotiating lower interest rates and balance amounts with your creditors. We can often help our clients find ways to eliminate or restructure their debt and keep their house and family car. Sell off your nonexempt assets. This page features stock images.

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Filing for Chapter 7 bankruptcy is complicated, so hiring an experienced bankruptcy attorney is the best investment you can make to right your financial situation. ARKANSAS BANKRUPTCY ATTORNEY. The discharge order means your debts are wiped away and you officially worry free! We are a full-service bankruptcy firm working on Chapter 13 and Chapter 7 bankruptcy cases. If you've fallen behind on your bills, the constant creditor calls and letters can feel overwhelming. In a Chapter 13 bankruptcy plan, most people keep all of their assets while catching up past-due balances over a three to five year period. If not, then you are required to pass a "means test" to see if you qualify. Our bankruptcy attorneys have handled a wide variety of cases across the state of Arkansas and are committed to obtaining the best results for clients. You're using loans to pay your bills. In addition, Arkansas law requires that debt collectors be licensed in the state. One thing to be aware of is that most bankruptcy attorneys offer free bankruptcy consultations, so you can get multiple perspectives. While it is possible to file bankruptcy "pro se, " or without legal representation, the decision of whether to file a bankruptcy and under what chapter is an extremely important decision and should be made only with competent legal advice from an experienced bankruptcy attorney after a review of all the relevant facts. • Your case will be handled by an attorney, not a legal assistant.

Child support payments. You will also need to have some disposable income available to make payments under the repayment plan. Filing for bankruptcy can help you take control of your financial future and put an end to wage garnishment, foreclosure, and debt collectors. We can also help you in filing a Chapter 7 bankruptcy case. And, so long as you are current on your mortgage and car loans, you can keep and continue to pay for those assets. It is designed to "reset" your credit, so to speak, in order to allow you and your family a fresh financial start. CHAPTER 7 BANKRUPTCY ATTORNEYS SERVING FAYETTEVILLE AND FORT SMITH, ARKANSAS. Your cost to file may vary depending on the Chapter you file under for bankruptcy relief, your financial circumstances, and the complexity of your case. During a consultation with our law firm, our attorneys will be able to determine which chapter is right for you. Any of these events and others can drive people into bankruptcy.

Chapter 7 Bankruptcy Attorneys In Arkansas And West

We will also let you know what it will cost to file and how much the bankruptcy is going to cost. At Knollmeyer Law Office, we explain the differences between bankruptcy types, explain the outcomes and decide which type is most advantageous for you or your business. Contact the Baim Law Firm for your free consultation. No legal jargon, clear process. When a case is filed, the petition, schedules and other related documents become a matter of public record. If you've suffered a loss of income, separation, illness or other event that has disrupted your life, creditor harassment can add to your stress level and make it difficult to regain control. Can I File For Bankruptcy If I Am Behind On My Mortgage Or Car Loan Payments? • We will be with you every step of the way to make sure you get a fresh start. Nullify Certain Liens. A bankruptcy attorney can go through the myriad of options available in these circumstances and aid you in selecting the one that makes the most sense for your particular situation. The plan of reorganization which must be approved by the Court. ARKANSAS Award-winning law firm, caring attorneys / lawyers. What Chapter 7 Bankruptcy Doesn't Do.

The two most common forms of bankruptcy for individuals include: - Chapter 7 – This type of bankruptcy enables you to wipe away your debts, without the concern of past-due payments. We recognize how important your hard-earned assets are to you, and we will do everything we can to ensure that you get to keep them. Debts you will still owe at the close of the Chapter 7 proceedings include: - Student loans. Understand the different types of bankruptcy. However, just as it is in those situations, too, getting an attorney on your side is always advised. Payment plans to fit your budget. A Chapter 7 bankruptcy case may be thought of as the "short-and-sweet" version of bankruptcy.

Chapter 7 Bankruptcy Attorneys In Arkansas 2021

You can take the class online or on the telephone. Chapter 13 allows you to repay some or all your debts over time, rather than liquidating them. You do not have to spend sleepless nights worrying about whether you will lose your home or car or be sued by a credit card company. This is a two-part test that evaluates both your average monthly income and the amount of your debts. For those with significant equity in property, or significant delinquencies in mortgage or other secured debt that will need to be cured, Chapter 7 might not be the best option. With over 25 years of experience, our attorneys have perfected a system that makes filing for bankruptcy as easy as possible for you. 3% of those had their debts discharged.

Also known as a payment plan form of bankruptcy, Chapter 13 is the debt repayment chapter. You may have to give up some assets, like an expensive car or jewelry, but the vast majority of filers do not. In a Chapter 13 bankruptcy, you will develop a repayment plan to repay your creditors over a three- to five-year period. Cities and Counties We Serve. We help people file for relief under the bankruptcy code. After your creditors have been paid, the court will discharge your remaining debts.

We also apply our knowledge of business law to bankruptcy cases so we can provide the best possible advice for your si tuation. That said, the cost of bankruptcy attorney fees may range dramatically whether you are in Little Rock or Fort Smith. We will simply evaluate your financial situation and determine if bankruptcy is the right for you. There is no cost to you for the consultation and you don't have to file bankruptcy.

During a period of financial hardship, a business or individual in Chapter 11 may—with approval of the Bankruptcy Court—be able to resolve problem debts and reduce amounts due. The trustee will sell your non-exempt assets and use the proceeds to pay off your creditors. How Legal Counsel Can Help. Contact us today by phone or email to schedule your appointment and we can start helping you. This includes family farms or fishing operations that are incorporated or involved in partnerships, provided the farmer or fisherman has regular annual income. We also specialize in family law; including divorce and child custody cases. They are referred to by their chapter titles in the U. S. Bankruptcy Code. Instant communication, anytime, anywhere. First, there is the obligation that you, personally, will pay…. Don't allow debt to ruin your life.

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