Bankruptcy Attorney Hartford, CT Bankruptcy Attorney Hartford, CT

 

A trusted bankruptcy attorney in Hartford, Connecticut from The Law Offices of Ronald I. Chorches knows that during hard times, filing for bankruptcy might be the right thing for you and your family to do so that you can plan for your future. A common misunderstanding about bankruptcy is that it means you have no options or a bleak future. This is far from the truth. Filing for bankruptcy can allow you and your family to have a significant amount of freedom. This may be the one way that you can begin taking back your financial freedom and wiping your slate clean. 

How do I know which kind of bankruptcy to file for? 

When you decide to file for bankruptcy, you may be wondering if you are able to choose the type of bankruptcy you file for. For the most part, you will file for either Chapter 7 or Chapter 13. 

Chapter 7 Bankruptcy. Chapter 7 bankruptcy can allow you to truly get a fresh start because it will allow you to pay off your creditors. With this method of bankruptcy, you will need to give up many of your assets to pay off creditors and may not be able to keep your house or your car. If you are hoping to pay off your debts and do so quickly, this may be the right bankruptcy to file for. 

Chapter 13 Bankruptcy. With Chapter 13 bankruptcy, you can work with your Hartford, Connecticut bankruptcy attorney to create a repayment plan so that you can start paying back your debts. This will usually be in the three- to five-year range and you will be able to keep your property. It is also possible to keep your home if you are worried about foreclosure. 

Not sure which one is right for you? 

Don’t worry about choosing. When you work with an attorney, they will examine your finances closely, look at your debts, and look at your assets. They can help determine which bankruptcy you are qualified for and help you create a plan. 

Are there debts you can’t fix with bankruptcy? 

There are certain debts, called nondischargeable debts, that you will not be able to be erased with bankruptcy. Some of these debts are alimony, child support, tax debt, and student loans (though the latter can be erased in certain circumstances). 

If you are considering filing for bankruptcy and would like the help of a bankruptcy attorney in Hartford, Connecticut from The Law Offices of Ronald I. Churches, give us a call now.