Experienced Bankruptcy Lawyer
Serving Rochester, NH
The primary purpose of bankruptcy laws is to relieve honest individuals and commercial enterprise debtors from their indebtedness and to provide them with a “fresh start.” There are two basic types of bankruptcy proceedings; Liquidation under Chapter 7 and repayment of the debts, over a period of time using future earnings under Chapter 13.
Chapter 7, informally called “straight bankruptcy,” is a liquidation bankruptcy proceeding. At the end of the proceeding the debtor receives a discharge of indebtedness for all dischargeable debts releasing him or her from personal liability for those debts. Generally, the debtor is able to keep his/her home and automobile in addition to other exempt property. Chapter 13 provides debt relief for individuals (consumers) by making payments to creditors (through the Trustee) based on the debtor’s anticipated income over the life of the Chapter 13 Plan, usually three to five years. Chapter 13 is particularly useful for folks who have a home on the verge of foreclosure and really want to keep their home, yet still file bankruptcy.
When to Call a Bankruptcy Lawyer
It's your right to file bankruptcy without the assistance of an attorney, but an experienced and qualified bankruptcy lawyer can make a big difference. Working with a bankruptcy lawyer can benefit you in several different ways.
Bankruptcy Planning & Preparation
There might be alternatives to filing bankruptcy - and if it is the right option for you, you have different kinds of bankruptcy to choose from. A bankruptcy lawyer can help you by identifying any potential difficulties in your case and planning accordingly. We will also prepare the necessary paperwork to get the procedure started.
Guide the Process
Our bankruptcy attorney will explain every step of the process as it's happening and make sure that you are always prepared for what might be coming next.
Handle Creditors
A bankruptcy lawyer can notify your creditors to stop collecting or negotiate with creditors to retain your vehicle or other assets. We can negotiate payment terms, the value of collateral, interest rates, and other issues.
Negotiate Post-Bankruptcy Life
We can help make sure you make it through the bankruptcy process and let you take full and complete advantage of your fresh start. We can also provide advice and guidance when it comes to rebuilding your credit.
If you have questions about the bankruptcy process, contact our Dover, Wakefield, and Rochester, NH area lawyer today to schedule a consultation!
Contact Our Bankruptcy Lawyer Today
If you feel that your debts suddenly are “out of control,” receive a foreclosure notice, or are being constantly harassed by creditors due to the loss of employment, illness or other misfortune and belief that bankruptcy may be an option, contact a bankruptcy attorney at Hanlon & Zubkus for a free initial consultation. Our bankruptcy lawyer will explain the process to you. If bankruptcy is an option, the attorney can help you decide whether it is a Chapter 7 or Chapter 13 Bankruptcy depending upon your circumstances.
Choosing to file bankruptcy is an important decision and should only be considered if you are in severe financial distress and are in need of a “fresh start.” Contact a bankruptcy lawyer today at Hanlon & Zubkus at (603) 332-8499!