Finding You The Relief You Need Through Chapter 7 or 13 Bankruptcy
Suffering through a loss or reduction in income can be a difficult experience. Today's troubling climate has brought on an increase of financial stress and ever increasing debt. Fortunately, individuals facing the challenge of overwhelming debt have options to find relief, options that can offer a fresh financial future.
For more than 25 years, our attorneys at Prousalis & Papantonakis, P.C. have provided dedicated and comforting support to clients who have succumbed to the burden of debt. Through Chapter 7 or Chapter 13 bankruptcy, we are often able to help you find relief.
If you live in the Lynnfield, Massachusetts, area and are facing overwhelming debt, we can help. Contact our office online or call 781-246-2000 to schedule your free 60 minute consultation to learn about your options for relief.
Finding the Bankruptcy That Is Right for You
Bankruptcy is not for everyone, and it cannot get rid of all of your debts. For instance, if you are suffering from overwhelming debt due to student loans or tax arrears, bankruptcy may not be right for you. However, if you have fallen behind on your credit cards, mortgage or medical bills, bankruptcy may be able to help you eliminate or restructure your debt.
With our assistance, you can find relief from your debt through:
- Chapter 7 Bankruptcy: Also known as liquidation bankruptcy, Chapter 7 can effectively eliminate your debt while allowing you to retain possession of certain assets including your retirement account and 401(k). Your remaining assets are sold to pay your creditors and lenders, giving you a fresh start in as little as four months.
- Chapter 13 Bankruptcy: For clients ineligible for Chapter 7 due to high income or asset value, Chapter 13 may still be a viable tool for debt relief. Also known as reorganization bankruptcy, Chapter 13 allows you to negotiate with lenders to find reduced payments and payoff amounts for your debts. The process allows for creation of a payment plan lasting between 36 and 60 months.
While it can take weeks and even months to see results from bankruptcy filings, you will be assured of certain instant benefits. The initial filing for either Chapter 7 or 13 Bankruptcy puts an automatic stay into effect, ending the harassing calls from creditors and collections agents and even putting a stop to foreclosure proceedings.
Do not let debt rule your life. Let our lawyers help you move on to a brighter financial future. Contact our office to schedule your free consultation today.