Stop The Debt Collectors! Consult With A Gilbert Bankruptcy Attorney Today
With Chapters 7 and 13 as the most common forms of bankruptcy being filed in the United States, these are also what most debtors assume to be for them in case they need to file for themselves. However, there are other several bankruptcy chapters which are special, and each chapter has specific qualifications.
A debtor must be able to assess one’s own qualifications in terms of income, available property, debt portfolio, pending and existing credit-related lawsuits, as well as previous bankruptcy filings if any. The differences in such factors would then identify which chapter best fits the debtor. For example, if you would like to file for Chapter 7 bankruptcy in order to be discharged of your debts, but you are proven to have some net disposable income that is above a specified percentage or amount, you may have to be qualified under Chapter 13 instead for debt restructuring and repayment. Such specific details are as provided by the federal bankruptcy laws, to which a Gilbert bankruptcy attorney can guide one through.
Even prior to a debtor’s consideration for bankruptcy filing, our expert bankruptcy lawyers in Gilbert will readily present clients with less serious but feasible alternative approaches in addressing their credit concerns. These include application for debt restructuring and resettlement, mortgage refinancing, and other available options which can ease the debtor’s payment obligations. Only in cases where none of these non-court approaches are proven possible, will we recommend filing for bankruptcy status as the crucial step to take.
It is also important to note that any debtor who files for bankruptcy must undergo credit counseling, which includes a special financial management course. We at Nielsen Law Group can assist with completing these courses, in order to help improve one’s financial standing as well in the future.
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