Why do you need a bankruptcy attorney?
After quite some time of working hard, things didn’t really go your way. Now, you are faced with quite some significant amount of debt, and the creditors are just piling up day by day. At this point, you have to get yourself a way out, lest you drown in all the debt, or worse, get auctioned to recover what you owe the creditors.
You probably have never had to go through an auction, but we can tell you for free. This is one of the worst things you could ever undergo in your life. Yes, things don’t always turn out as you had always hoped and prayed they would, but it doesn’t mean that you don’t have a way out of the situation.
What is Bankruptcy?
Here is where we come in. Under the law, you have a way to get yourself out of this ugly situation. This process is known as declaration of bankruptcy. What this means is that you, or whichever entity you represent, are legally not able to pay your debts. The thing is, this has to be done through a court of law.
Bankruptcy Lawyers with over 50 years’ experience
As lawyers, we have between us, accumulated over 50 years’ worth of experience. This experience has been through a variety of fields, but our main focus point has been to help people and entities like you experiencing some financial distress to get some relief from the creditors who have been bearing down upon you.
Yes, it is absolutely appalling that you are not able to honor your obligations at this time, but your creditors won’t mind sending the wolves after you to recover what you owe them. That’s why you absolutely need us to step in.
We can help you put a chasm between you and your creditors, and also give you enough time to restructure yourself, and your entity to get yourself back to profitability, all the while, keeping the wolves away from your valuable assets.
Bankruptcy Law Firm
Like all matters that are governed by law, the application and actually going through bankruptcy is a process. While it is possible that you can file the papers yourself, it would be much more useful to you, if you would give us the opportunity to help guide you from the moment you make the decision to file for bankruptcy, to the moment where you will finally be free of all your debt obligations to the creditors.
This is mainly because there are many different ways to handle debt legally, other than just having to resort to bankruptcy. As bankruptcy attorneys, it is our job, nay, our duty to help guide you through these murky times in your life with all the best efforts we can when you allow us to put our heads together to come up with a solution.
If bankruptcy is the way that you have to go to, then we as bankruptcy lawyers in Washington DC are best placed to guide you through this part of your life. This is because under the law, there are two different types of bankruptcy you can file for. While the aim is to help get you out of debt, how that aim is achieved is quite different according to the way the law is structured.
What is Chapter 7 Bankruptcy?
The first way we can help you get rid of debt is through what is known as Chapter 7 bankruptcy. This is the most common form of bankruptcy that is filed in the United States and depending on where you stand, this is what will be required to get rid of the debt, and have you feeling like a new person; unburdened and debt free.
With a chapter 7 bankruptcy, the assets that belong to your entity will be handed over to a trustee. This trustee is responsible for checking the value of your assists and how much can be recovered by liquidating the assets of your entity. They will then go ahead and distribute whatever they gain from the liquidation to the creditors of your entity.
Throughout this process, we will help guide you, and protect you in the court systems as every decision made has to be approved by a court of law. In some cases, the trustees may try to rope you personally into the case, and our job will be to keep you as far away from any liquidation as possible.
What is Chapter 11 and Chapter 13 in Bankruptcy?
The other common form is a chapter 11 and 13 bankruptcy. Chapter 11 is geared more towards business and other incorporated entities, while Chapter 13 is geared more towards individuals and unincorporated entities. This is the best option for those who would like to salvage their entities, or themselves from facing liquidation.
Chapter 13 is commonly known as Wage Earner’s Bankruptcy. This is because unlike Chapter 7 which mandates the liquidation of assets, Chapter 13 will give you the opportunity to restructure your payment plans and set it in motion.
As part of the chapter 13 process, the debt you hold should be less than $400,000 in terms of unsecured loans such as credit card bills. If you re facing a foreclosure, this is the best bet to help you fight losing your home.
Throughout the whole process we will be with you to help you determine which option is best for you, and also take into account what it is you want before helping you file for bankruptcy.
Bankruptcy Law Firm
The fact of the matter is, we’re just good at what we do. And 50 years’ worth of experience gives us the confidence to make this claim. We have represented hundreds of clients between us, and we will help you through this process.
There is no reason why life not working out as you had expected should mean that you go back to the drawing board and start again from scratch. You deserve a fresh start, not from the couch of your best friend’s house, but from your own bed, in your own home.
It is time for you to get up, pick up the phone and give us a call. If you are not too sure about speaking, shoot us an email. We will always have someone waiting to speak to you, and give you the necessary information you can use to make an informed choice.
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