The Law Offices of J. Wynn Pelham, P.C. helps debtors file for Chapter 7 and Chapter 13 Bankruptcy. At your initial free, no-obligation consultation, you will meet with one of our attorneys who will discuss your financial circumstances with you. At this consultation, we determine if bankruptcy is a viable option to assist you in obtaining a fresh financial start and, if so, what type of bankruptcy is best for you.
If your total household income is low enough, you can qualify for a Chapter 7 Bankruptcy; the quickest way to a fresh start. Chapter 7 allows you to obtain a court order, called Discharge, that relieves you of all liability for all unsecured debts, such as credit cards and medical bills, you owe on the date of filing. Some common exceptions include student loans, taxes, child support, and alimony. In exchange for this relief, you are required to disclose all of your property to the court and your creditors. You will not lose your home, car, or other assets so long as there is little or no equity in them and you are current on your payments, if applicable.
If your income is too high to qualify for Chapter 7, you are significantly past due on your home or car, or you own a large amount of assets, Chapter 13 may be a better alternative. Chapter 13 allows you to retain all of your assets, while you repay your debt under court supervision. Normally, all secured debt in paid full, while you pay a percentage of your unsecured debt. This percentage can range from 0 to 100 depending on your circumstances.
While in either type of Bankruptcy, your creditors are forbidden from taking action to collect their debts. This includes calling, writing or otherwise harassing you; filing lawsuits or garnishments against you; and/or repossessing or foreclosing on your property.