We can assist you in your quest for a “fresh start” through the process of bankruptcy. Laura D. Jacobs, leader of our firm's bankruptcy counsel, is here to advise you every step of the way.
We represent both Chapter 7 and Chapter 13 bankruptcy cases. Are you in need of a clean financial slate? Are the collection notices weighing on your mind? Contact the Law Firm of Cartron and Jacobs, LLC to evaluate your options for debt relief today.
What are the different types of consumer bankruptcy?
Generally, there are two types of consumer (non-business) bankruptcy: Chapter 7 and Chapter 13. In a Chapter 7 bankruptcy, all non-exempt assets are turned over to the Trustee and converted to cash to pay off the creditors. At the completion of a Chapter 7 bankruptcy, the debtor’s liability to pay the dischargeable debts has been extinguished. A Chapter 13 bankruptcy petition is a proposed plan to pay back the creditors a portion or all of the debt in monthly installments. Legal advice should be sought to determine whether bankruptcy is advised, and which type of bankruptcy is appropriate.
Are all of my debts discharged in a Chapter 7 bankruptcy?
Not all debts are dischargeable. Under bankruptcy laws, liability from certain types of debts cannot automatically be extinguished in bankruptcy. These include, but are not limited to: some student loans, certain tax obligations, judgments resulting from driving while intoxicated, and alimony or child support.
Will filing bankruptcy stop a foreclosure sale of my house?
Yes and no. The filing of a bankruptcy petition results in an "automatic stay" of all collection attempts, including garnishments and foreclosures. However, an automatic stay is temporary in nature, and can be lifted by the creditor if satisfactory arrangements are not made to regarding the debt.
Stop license suspensions
Stop credit card interest
Stop medical bills