Sometimes people reach a point at which they are overwhelmed by unmanageable debts. If you are unable to pay your bills, struggling to stay afloat, and concerned about your financial future, the experienced attorneys at the Law Offices of Craig L. Cook are here to guide you through the process of declaring bankruptcy. We understand that many people feel anxious about the idea of filing for bankruptcy. With our support and guidance, you can obtain the debt relief you need.
Chapter 7 Bankruptcy
Chapter 7 is the most popular type of bankruptcy for consumers. During the process, your non-exempt assets will be liquidated to repay a small portion of the debts that you owe. Since there are many different exemptions, most Chapter 7 filers lose very little property. When you file, an automatic stay is issued that forbids your creditors from trying to collect the debts that you owe. Chapter 7 is an effective way to halt evictions, harassing phone calls, garnishments, lawsuits, and judgment collections. Once we help you receive a discharge of your debts, you will not be obligated to pay them.
Chapter 13 Bankruptcy
Many consumers opt to file for protection under Chapter 13. This type of bankruptcy involves a restructuring of your debt and allows you to retain more property. Chapter 13 bankruptcies can stop foreclosures while giving you an extended time to catch up on repaying what you owe. When you file for protection under Chapter 13, you will submit a proposed plan of repayment. Your repayment period will last between three and five years. We can help you devise a proposed plan that works for your budget and that the court will likely approve.
Benefits of Working with an Experienced Attorney
While it is possible for you to file for bankruptcy on your own, you are more likely to enjoy a smooth, stress-free experience if you consult an attorney. Working with an attorney experienced in bankruptcy law can offer you the following potential benefits:
- Increased likelihood of achieving a debt discharge
- Valuable financial guidance
- Minimized distress
If you attempt to file your petition without help, you may make mistakes that could result in the dismissal of your case. Depending on the reason for the dismissal, you may be forced to start the process over or be barred for a period of time from filing for debt relief. Legal assistance is especially important if you are filing for protection under Chapter 13 because if you receive help with a proposed repayment plan, it is far more likely that the plan will be approved by the court.
When you file your petition, the court will issue an injunction that directs your creditors to cease all collection activities for the debts that you owe. This can provide you with nearly immediate relief from creditor harassment, and it can stop garnishments, judgment collections, and creditor lawsuits in their tracks. Our attorneys are able to file petitions quickly to secure relief for our clients as early as possible.
Contact the Law Offices of Craig L. Cook Today
Our team understands that many different situations can lead people to financial difficulties. We can offer you guidance so that you can build a better financial future once your case is over. Our attorneys are compassionate and easygoing, and we can help to minimize the stress and anxiety that you might experience during the process. We will do our best to provide you with a fresh financial start.
Bankruptcy is sometimes unavoidable for people who are suffering under the weight of unmanageable debts. Fortunately, it is possible for you to obtain relief with the help of the lawyers at the Law Offices of Craig L. Cook. Contact us online or call us at 479-783-8000 to schedule your free consultation and to learn more about your options.
