Understanding Chapter 7 And Chapter 13 Bankruptcy In Hyannis, MA
Filing for bankruptcy is a legal and very practical option to use when people find themselves unable to stay current with their debts. This situation is often a result of the loss of a job or a decrease in income, unforeseen medical bills, divorce, or an emergency situation within a family.
At Smeloff & Associates, our business is to help out people that find themselves in debt without the means to get current. Providing debt relief since 1994 in Hyannis, MA and the surrounding areas, our team of Chapter 13 and Chapter 7 bankruptcy attorneys is here to help.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is the best option for people that have a steady income that is above the means test level for Chapter 7, and that have the ability to develop a plan to stay current and pay back missed payments on debts.
This allows the individual to keep the assets they choose while entering in to a three to five year plan with creditors to pay back the debt. We will help you to develop a workable plan, and to also rebuild your credit when your bankruptcy is discharged.
Chapter 7 Bankruptcy Attorneys in Hyannis, MA
Those that have a limited income and do not have significant assets to cover the debt will work with our Chapter 7 attorneys. They will help you to understand what items you can keep, typically including your home, vehicles, and even tools needed for work, while also helping you understand each step of the process.
Filing for bankruptcy will help you to stop foreclosure, get you immediate debt relief and relief from creditors, and allow you to get back on your feet. Just give us a call at Smeloff & Associates so we can help you understand your options.
Hyannis, MA 02601
Phone: (508) 771-1110