Discharging Your DebtMassachusetts, New Hampshire, Maine & Rhode Island Bankruptcy AttorneysDISCHARGING YOUR DEBT IN BANKRUPTCYThe purpose of filing Bankruptcy is to give a debtor a fresh financial start. This is accomplished by the U.S. Bankruptcy Court issuing a "Discharge" of debts. When a debt is "Discharged", this means that the debt is erased and the debtor is no longer liable for paying it. The creditor may take no further action against the debtor for this debt because it has been formally Discharged, or erased, through the Bankruptcy process. In a Chapter 7 Bankruptcy, all eligible, unsecured debt is Discharged after the liquidation of the debtor's non-exempt assets. In a Chapter 13 Bankruptcy, all eligible debt is Discharged after the completion of a successful repayment Plan that may last for 36 months (3 years) or 60 months (5 years). In either a Chapter 7 or Chapter 13 Bankruptcy, the end result is a debtor who is free from the debts erased in Bankruptcy.Imagine, finally being completely free from debt. You owe nothing. You can start enjoying life again. Filing Bankruptcy not only immediately stops all collection efforts against you, but it also offers you the opportunity to erase all eligible debt. This may include unsecured debt such as cell phone bills, credit card bills, utilities, personal loans, medical bills, etc. Some debt may not be affected by Bankruptcy. This includes secured debt, such as certain types of taxes, child support, spousal support and student loans. These debts are typically not eligible to be Discharged through the Bankruptcy process, although some tax debt may be Discharged depending on the type and age of the tax debt. It is also possible to include some secured debt in a Chapter 13 repayment plan, but this will vary depending on the case.
Life is short . . . get a fresh start and Contact us Today! Top 10 Reasons TO CHOOSE FAMILYLEGAL
Please take a few minutes to explore the Biographies of our highly skilled and experienced Bankruptcy Attorneys. If you are facing foreclosure, harassing creditors, or overwhelming debt, we encourage you to Contact us to schedule a FREE initial Consultation with one of our experienced Bankruptcy Attorneys at one of our Ten (10) convenient office locations. There is no obligation. However, this FREE initial Consultation allows our Attorneys the opportunity to review your current financial situation, and offer you appropriate and effective options to meet your needs. At FAMILYLEGAL, your initial Consultation with one of our highly skilled Bankruptcy Attorneys is always FREE. Contact us NOW for immediate help with your Chapter 7 or Chapter 13 Bankruptcy.
|
- Harassing collection calls
- Foreclosure actions
- Repossessions
- Wage garnishments
- Law suits & Court appearances
- Bill & collection actions
- Property attachments
- Feeling overwhelmed
- Your home
- Your car & motorcycle
- Your modest bank accounts
- Your retirement accounts (pensions/401k/IRA)
- Your personal property and possessions
- Your Recreational vehicles
- Your sanity and dignity
|
Forclosures on the Rise It’s been years since rogue mortgage market collapsed causing . . .
|
