Our Gary Bankruptcy Lawyers Are Here To Help
At the Law Office of Kevin M. Schmidt, P.C., our experienced bankruptcy lawyer knows how scary dealing with debt collectors can be, and how important the decision to file for bankruptcy is. Kevin M. Schmidt, Attorney at Law, will competently guide you through what you need to know about filing for bankruptcy, assist you in understanding the benefits and disadvantages to filing, and answer any credit questions that you may have.
Helping You to Understand if Bankruptcy Is Right for You
We help you to understand if bankruptcy is right for you by providing you with a personalized overview of how bankruptcy could help or hurt your financial situation, as well as what the process will look like, as well as what your financial picture may look like when filing bankruptcy is complete. Our experienced bankruptcy lawyers also help you to understand the two most common types of bankruptcy for individuals:
- Chapter 7 bankruptcy. Chapter 7 bankruptcy, also known as liquidation bankruptcy, is for those who have very little income, or none at all. This type of bankruptcy is designed to wipe out your debts. In doing so, however, you are at a greater risk of losing assets and possessions that you do have, such as a vehicle or a home. Further, all non-exempt assets are taken to pay creditors.
- Chapter 13 bankruptcy. Chapter 13 bankruptcy is for those who have some income and want to reorganize their debts in order to keep their home and other possessions. While most debts are forgiven in Chapter 7 bankruptcy, in Chapter 13 bankruptcy, a payment plan is established to help the debtor pay back their debts over time. Usually, the time period is between three and five years.
Why You Should Work with an Experienced Bankruptcy Attorney
Filing for bankruptcy has both pros and cons, regardless of the types of bankruptcy for which you are filing. What’s more, there are numerous regulations associated with filing for bankruptcy, such as a “means test” for Chapter 7 bankruptcy, pre-bankruptcy credit counseling, and more. By working with an experienced bankruptcy attorney, you will not only develop a more thorough understanding of the benefits, disadvantages, and regulations associated with filing for bankruptcy, but you will also have an experienced professional who cares about you on your side throughout the entire process.
Contact the Law Office of Kevin M. Schmidt, P.C. for Bankruptcy Counsel Today
Being overwhelmed with debts, facing creditors, and not knowing how you will afford to continue living is a terrifying feeling. At the Law Office of Kevin M. Schmidt, P.C., we know what you are going through, and want to help. We promise to provide you personalized attention when you call our law offices, and will never charge you for your initial consultation.
To learn more about bankruptcy and how our law firm can help, call us today or visit us online. We are here for you!