Little Rock Debt Repayment Plan Lawyer
When an individual or a married couple is overwhelmed with debt and being harassed by creditors, liquidating their debt and walking away may be tempting. Before filing for a liquidation or Chapter 7 bankruptcy, it is important to consider all the facts. An experienced bankruptcy attorney can help you determine the best path for you and your financial circumstances.
At The Henry Firm, P.A., we help people fight creditor harassment and find debt relief through bankruptcy and other means.
For debt relief options, including bankruptcy, please contact our Arkansas bankruptcy Chapter 13 attorney at 866-533-0553 or 501-859-6170 or send us an e-mail.
Debt Relief Through Chapter 13 Bankruptcy
A Chapter 7 and Chapter 13 bankruptcy do not work the same way. Bankruptcy laws were revised in 2005 and the Fair Debt Collection Practices Act also affects individuals who are struggling with debt.
If you fail the Chapter 7 means test, a Chapter 13 bankruptcy may be a good option for you. In a Chapter 13, you are allowed to pay your creditors over a period of three to five years at either a reduced rate or other favorable terms. Instead of paying your creditors directly, you pay a trustee who pays the creditors. If you complete the plan, any remaining debt in the plan is liquidated.
Like a Chapter 7 bankruptcy, a Chapter 13 bankruptcy will:
- Stop creditor harassment
- Halt foreclosure proceedings temporarily
- Stop wage garnishment
In a Chapter 13 plan, you may keep all of your assets as long as they are included in the bankruptcy repayment plan. Every individual is different, and so too is their financial situation. We would be happy to discuss your options with you.
When Integrity Is Your Bottom Line ∙ Contact Us
If integrity and honesty are as important to you as is experienced legal representation, then please call 866-533-0553 or 501-859-6170 to speak with our attorney, or send an e-mail to our law firm. We look forward to helping you with your legal issue.
"When one door of happiness closes, another opens, but often we look so long at the closed door that we do not see the one that has been opened for us." — Helen Keller
We are a debt relief agency. We help people file for bankruptcy relief under the United States Bankruptcy Code.
