Bankruptcy is a legal status established by a court that allows a consumer to legally eliminate debts and get a fresh start. Typically this involves a Chapter 7 or 13 bankruptcy. Under Chapter 7 the court is asked to discharge the debts owed. Chapter 13 involves filing a plan with the court to repay the creditors.
The plan may provide for different levels of payment for different creditors.
Bankruptcy Attorneys can also be of assistance before you decide to file bankruptcy. Often times debt collectors will take advantage of the inexperience of the creditor in handling these matters. A bankruptcy attorney can assist you in dealing with creditors and protecting your rights against unfair collection practices.Find a Lawyer Near Me