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At Castro Law SC, LLC, our bankruptcy practice focuses on helping our clients obtain the debt relief they need. We represent individuals and married couples in consumer bankruptcy cases that involve Chapter 7 and Chapter 13 bankruptcy filings. Our experienced attorneys will analyze each client’s particular financial situation and provide thorough, clearly explained, and transparent advice. We then work on ensuring our clients regain control of their finances.
After our first meeting, the goal is for clients to thoroughly understand their options and a personalized and specific action plan. We have represented clients in many bankruptcy cases, and we know how overwhelming it can be to face overwhelming debt. All our partners and team are committed to guiding clients toward a sound financial path.
For many individuals, a bankruptcy filing is considered as the last resort. However, bankruptcy is not the end of the world. For many individuals, it is the opportunity for a fresh start.
Bankruptcy Relief Is Your Right
The United States Constitution explicitly permits Americans to get rid of debts through bankruptcy. Lawmakers understood that bad things happen to good people and enacted these laws for their protection. Unfortunately, many individuals are hesitant to speak with an attorney because they are embarrassed about their finances, but they should not be. Now more than ever, hardworking people are finding themselves in financial distress through no fault of their own.
Common Forms of Bankruptcy
• Chapter 7 bankruptcy – commonly referred to as liquidation bankruptcy.
Chapter 7 is a complete discharge of debts, with some exceptions. It can be a good option for people who have large amounts of unsecured debt, such as credit card debts or medical bills. Individuals can complete the process in as little as five months, and when they are discharged from Chapter 7, they are barred from another Chapter 7 filing for eight years.
• Chapter 13 bankruptcy — commonly referred to as reorganization bankruptcy.
Chapter 13 provides partial repayment to some or all creditors and remains on credit reports for seven years. It allows individuals to repay their debts according to a court-approved repayment plan over a 3-to-5-year period. Under Chapter 13, the individual would make one payment to a trustee responsible for distributing the funds to their creditors. Most Chapter 13 debtors can eliminate many unsecured debts, such as credit cards and medical bills. When discharged from Chapter 13, individuals are barred from another Chapter 13 filing for two years and a Chapter 7 filing for four years.
When you speak with us, we will take the time to help you understand the pros and cons of filing for bankruptcy. We will also address non-bankruptcy options, including debt management plans and debt negotiations.
These matters are complex, and you need competent legal advice for bankruptcy or any other finance-related legal issue. The experienced legal team at Castro Law SC, LLC, can help. Our attorneys are skilled at protecting clients’ rights who decide that bankruptcy is the best solution for their unique situation. Contact us now for a free and confidential consultation about your case.