Bankruptcy Attorneys
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.
Civil Litigation Dover, NH

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. The bankruptcy attorney 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 attorney today at Hanlon & Zubkus at (603) 332-8499!
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