Woodbury Bankruptcy Lawyer

bankruptcyOffering Practical Solutions to Woodbury Families Who are Overwhelmed by Debt

Declaring bankruptcy provides you with an opportunity to get a fresh start where your finances are concerned.  Depending on what type of bankruptcy is involved, you will have the option of either restructuring your debt or liquidating your assets to pay creditors.  Either way, as soon as an individual files for bankruptcy, any garnishments or foreclosure proceedings that are currently underway are halted and collection agencies and creditors are no longer allowed to contact them except through the bankruptcy court.  At Keven K Shoeberg, P.A., we know that filing…

radical step.  That’s why we wont suggest that you and your family declare bankruptcy…

we’re convinced it’s absolutely necessary.  If bankruptcy isn’t the right response to the challenges you are facing, we’ll help you find another practical solution, be it consolidation, debt negotiation, or something else.  If bankruptcy is the right answer to your financial problems, however, we’ll guide you through the process with a minimum of time and expense and make sure that your filing for Chapter 7 or Chapter 13 bankruptcy can help you get a handle on your overwhelming debt and keep you and your family financially stable in difficult times.

Chapter 7 Bankruptcy Lawyer

As soon as you would file for bankruptcy  with the assistance of a Chapter 7 bankruptcy attorney, calls from collection agencies will cease and any foreclosure proceedings presently underway will be halted.  Additionally, any garnishments to which your paychecks are currently subjected will be stopped.  Declaring Chapter 7 bankruptcy is like requesting a timeout.  It allows you and your family to take a deep breath and find a realistic solutions to overwhelming debt.  We’ll help you figure out which asset you may have to liquidate under the terms of a Chapter 7 and which ones you may be eligible to keep.  Debts than can be erased after a Chapter 7 liquidation include outstanding credit card bills, medical bills, utility bills, and balances owed on unsecured loans.  Other debt such as student loans or victims’ restitution payments are usually not dischargeable under the terms of a Chapter 7 liquidation.  We can help you establish which portions of your debt may be dischargeable under federal and state laws and which are not.

Chapter 13 Bankruptcy Attorney

Declaring  Chapter 13 may be an ideal solution to a significant debt if you have sufficient income that you would be able to meet the terms of a debt restructuring.  As long as you continue to make your payments on time under the terms you and your creditors agreed to in bankruptcy court, any remaining dischargeable debt that exists after the time period of the established repayment plan – that is, after three to five years – will be erased.  Best of all, you can retain ownership of important assets such as your house and your vehicle under terms of a Chapter 13 bankruptcy even if you are drastically behind on your payments right now.

Not all your debt may be dischargeable when declaring bankruptcy.  We can help you understand which portions of your debt may be erased after the time period of your repayment plan concludes and which you will still be responsible for.  Contact our office to learn more about how debt reorganization may be a universal solution to complicated financial challenges.  We can guide you through an acceptable compromise with creditors and assist you in make sure that you can realistically honor the terms of the bankruptcy.

Debt Negotiation

The first thing we do when a client contacts us about the possibility of declaring bankruptcy is conduct a thorough review of their financial situation.  If we think that filing for bankruptcy is a good idea.  We’ll see what kind of bankruptcy they may be eligible for based on their income, expenses, and current debt.  However, bankruptcy may not always be the best choice.  Our knowledge of the law and experience dealing with creditors can help you in negotiating a valid agreement to restructure any outstanding debt.  This could be for a reduced limp sum or a payment plan that fits your current income.  By gaining a clear understanding of your debt and income, we can help you determine if debt negotiation is possible and help you put a plan into motion.  Schedule a consultation so that we can begin moving forward with an option that promises better things ahead;.

Call (651) 735-9340 to speak with an experienced Woodbury Bankruptcy Attorney.