Leslie Kaufman Law Office can help solve your debt problems. Sometimes negotiating with creditors can be a solution in itself, but often bankruptcy is the best option. The process of filing for bankruptcy is more complicated that it used to be, but bankruptcy still provides the best protection and the most complete relief for most individuals. And though bankruptcy can seem complicated, Leslie Kaufman will guide you through the process, one step at a time, from the beginning to the end.
At your initial consultation, Leslie Kaufman will explain to you the difference between a Chapter 7 and a Chapter 13 bankruptcy. Whether you should file a Chapter 7 or a Chapter 13 bankruptcy can often be determined during your initial consultation.
A Chapter 7 bankruptcy allows you to "discharge" (eliminate entirely) most debts. Some debts, such as student loans, child support, and most taxes, cannot be eliminated. However, credit card debt, medical bills, personal loans and similar other types of debts, can usually be completely eliminated. For debt secured by collateral, such as a home loan or a car loan, you must continue to make your regular monthly payments if you want to keep the collateral. To be eligible for a Chapter 7, your income must generally be less that the state median income for your household size.
A Chapter 7 takes about 3 months, from the initial filing with the court until the final discharge order. However, protection from creditors' action goes into effect as soon as the Chapter 7 is filed, putting a stop to creditors’ phone calls, garnishments and the like.
A Chapter 13 bankruptcy is basically a payment plan that is designed for you to pay off all or part of your debt. A Chapter 13 is good option for many individuals, including those who have good and steady incomes, or those who want to save their home from foreclosure. Also, a Chapter 13 is often a good way to deal with tax debt issues or other debt that generally can't be discharged in a Chapter 7. A Chapter 13 lasts from three to five years, and your monthly payment is based on what you can afford to pay (which is often a lower figure than monthly minimum payments expected by a creditor pre-bankruptcy).
At your initial consultation, we will discuss in detail your individual situation, your concerns and questions, and your available options. We will find the best option for your individual situation. Please contact me
today to schedule a consultation so I can get you out of debt and back to what's important!
Leslie Kaufman Law Office is a debt relief agency helping people to file for bankruptcy under the Bankruptcy Code. Information on this site should not be construed as legal advice nor the formation of a lawyer client relationship. You should consult an attorney for individual advice on your own situation.
Leslie Kaufman is licensed to give legal advice in the State of Washington only.