BANKRUPTCY
If you are struggling beneath mountains of debt, it may be in your best interest to declare bankruptcy. We can help you put an immediate stop to creditor phone calls and harassment, end lawsuits, avoid foreclosure, stop garnishment, avoid repossession, halt eviction, stop tax levies, eliminate medical debt and credit card debt, consolidate court fines, get your drivers’ license back, catch up on mortgage payments, lower car payments, and remove or modify your home equity line of credit.
At Hathaway Holland, we expertly guide individuals, families and small businesses through the bankruptcy process. We have filed over 6,0000 cases of every size and shape under Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
CHAPTER 7
A Chapter 7 is often referred to as "straight" bankruptcy. At the end of this four-month process, certain debts - like credit cards, collection accounts, medical bills, payday loans, repossessed cars, etc. - are "discharged", or completely wiped out. The discharge of debts at the end of the bankruptcy means the bankruptcy filer is relieved of all of the responsibility to pay them, thereby giving them a "fresh start."
CHAPTER 11
A Chapter 11 bankruptcy allows for the reorganization of the debts of a corporation, partnership, or individual. During this type of bankruptcy, you will be put on a payment plan, where you gradually pay off your debts while maintaining your assets and keeping your business open. Once the bankruptcy paperwork is filed, creditors are immediately prohibited from continuing collection activities.
CHAPTER 12
A Chapter 12 bankruptcy is a powerful reorganization tool for family farmers and fisherman. This type of bankruptcy also creates a payment plan to repay your debts and provides special protections and incentives for those in the farming and fishing industries.
CHAPTER 13
A Chapter 13 is a reorganization bankruptcy which can be a powerful tool towards helping you regain financial stability. This type of bankruptcy allows those with regular income to completely eliminate some debts, while making a single monthly payment towards others. For example, a Chapter 13 can be used to stop a foreclosure and allow you to remain in your family home and can help you to keep assets that are important to you - like your car. In order to keep certain assets, you will make a monthly payment toward those debts over a period of three to five years, but your payment may be smaller than before bankruptcy due to your inability to pay, the elimination of penalties, and in some instances, by stopping interest from accruing.
IT'S IMPORTANT TO CONTACT AN EXPERIENCED ATTORNEY AS SOON AS POSSIBLE IF YOU BELIEVE YOU NEED TO FILE BANKRUPTCY SO YOUR ASSETS WILL BE PROTECTED
