Providing Solid Advice Regarding Bankruptcy
Norwalk Bankruptcy Attorney Help Clients Gain Control of Their Financial Future
If you find yourself drowning in debt, filing for bankruptcy can be a viable solution, once you have consulted with experienced bankruptcy attorney like Lisa Gustafson. I will examine your unique financial situation, provide valuable insight, and help guide you through the complex process.
Types of Bankruptcy
There are two main types of consumer bankruptcy:
- Chapter 7, also known as liquidation. In a Chapter 7 bankruptcy, the debtor will be allowed to keep some exempt property, but the bankruptcy trustee will sell non-exempt property and use the proceeds to pay off creditors.
- Chapter 13, also known as reorganization. In a Chapter 13 bankruptcy, debtors are able to repay their debts over time, usually three to five years. Chapter 13 bankruptcies offer individuals several advantages over liquidation, mainly by giving debtors an opportunity to keep their property and save their homes from foreclosure.
Home Mortgage and Loan Modifications
Before individuals are allowed to file for bankruptcy, they must receive either individual or group credit counseling from a nonprofit budget and credit counseling agency approved by the U.S. Bankruptcy Trustee’s Office. A bankruptcy case may be dismissed if the debtor has not obtained the required credit counseling before the filing of the case.
Contact Our Norwalk Bankruptcy Attorneys Today
If you would like to make a financial fresh start by filing for bankruptcy in Norwalk, Danbury, or New Canaan, Connecticut, attorney Lisa Gustafson will help determine whether bankruptcy is the right choice for you and if it is, guide you through the entire process. Contact our firm online, or call 203-938-0119 to set up your free initial consultation today.