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  | BankruptcyBANKRUPTCY - GIVING YOU A FRESH START No one plans to go bankrupt. Usually, bankruptcy results from the loss of a job or a bad business decision. Unfortunately, when the paychecks stop coming, the bills still do. And so do the phone calls and notices from bill collectors. The federal bankruptcy law holds out a promise to the debtor of a new opportunity in life, unhampered by the pressure and discouragement of pre-existing debt. As a bankruptcy lawyer, I bring experience, skill, and creativity to the highly complex area of bankruptcy law. There are several types of bankruptcy available to you, the consumer. The most widely used however are Chapters 7 and 13. Chapter 7 is often referred to as an asset liquidation or straight bankruptcy. When you file for Chapter 7 relief, you are allowed to keep specific items of property, like a car or home, with a certain amount of equity. These are called your personal property exemptions. In the event that the amount of equity in your property exceeds the allowed exemptions, Chapter 13 bankruptcy may be available to you. Chapter 13 is more like a debt consolidation program. You participate in a payment plan to repay a portion of your debt. A bankruptcy trustee collects a monthly payment from you and in turn, disburses the payment to your creditors in accordance with the bankruptcy rules. You may keep all of your property in a Chapter 13 bankruptcy, regardless of its value or equity. My bankruptcy practice is limited to Chapter 7 bankruptcies. However, I will work with you to determine which type of bankruptcy is most appropriate for you and will refer you to competent counsel, should the Chapter 13 best meet your needs. CONTACT ME If you are struggling to make ends meet and are wondering whether filing bankruptcy may be your best option, contact me, a Chapter 7 bankruptcy attorney. I will provide you with a free initial consultation. I represent people throughout western Arkansas, primarily in Sebastian, Crawford, Franklin, Logan and Scott counties. Self Law Firm The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Copyright © 2008 by Self Law Firm. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. |