Under the current economic climate where Americans are saddled with high taxes, it is plausible that even honest, hardworking Americans may find it difficult to make ends meet and find themselves in a very tight spot financially. If you find yourself in such a situation, remember you are not alone, and you can seek expert legal counsel.
As per the US Federal Bankruptcy code, bankruptcy is the process undergone when an individual or a business is no longer able to pay back their debts and want to seek relief from it. Thanks to bankruptcy, such individuals or business may actually get a second shot to start over, a clean slate so to speak.
In Arkansas, the laws governing bankruptcy have been recently revised and effectively, it has become more challenging to successfully file for bankruptcy for both businesses and individuals.
However, with the right professional, legal guidance, many people are still able to file for bankruptcy and have the burden taken off of their shoulders. There are several different types of bankruptcy. You will find legal counselors who help clients that come under the following categories:
- Chapter 7 Bankruptcy
- Chapter 11 Bankruptcy
- Chapter 12 Bankruptcy
- Chapter 13 Bankruptcy
The fabulous news about all these forms of bankruptcy is they all have some in common: all of them can be handled and are comprehended by the marvelous legal talent found on USAttorneys.com. You are in the right place. Any one of our legal warriors will know which bankruptcy situation you are in and be able to offer you sagacious advice.
Make the call today! You need legal help and we have an attorney for you!
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is also known as “straight” bankruptcy. This is what most people filing for bankruptcy for debt relief will be hoping to achieve. However, it is also the most difficult to accomplish. If successful, then a chapter 7 bankruptcy will essentially wipe away your debts. However, this will be at the cost of giving up on being able to keep your property (excluding “Exempt Property”).
In most Chapter 7 bankruptcy cases, if you happen to own any property which exceeds certain exemptions limits, then the creditor may be able to go ahead and sell this property and acquire the money or income from the sale in order to recuperate for the lost loans or at least a part of the lost loans.
Not only can we assist you in filing for chapter 7 bankruptcy, but we can also help have your most valuable property such as your family home, car, etc. be classified as exempt property.
Chapter 13 Bankruptcy
Even though most people generally want all of their debts to be wiped away, it is only a few that qualify for chapter 7 bankruptcy. Furthermore, even those that do get chapter 7 bankruptcy may be at a risk of losing their property.
Chapter 13 bankruptcy is what is suitable for most people who are behind on loan payments and still want to retain their property, be it a house or a car.
In a Chapter 13 bankruptcy, the debtor will essentially work out a judicious payback plan and have it approved. A legal pro can help you strategize the best pay back plans. This way, you will have more time to pay back your debts and the size or value of your installments will be reduced too so you can actually and better manage the debt.
Time for action!
If you find yourself in such a situation, the first thing you ought to do is call up an Arkansas bankruptcy lawyer. And you don’t have to look further than USAttorneys.com to find the contact details of the most experienced legal experts.
Simply use our interactive map for a list of attorneys in your region which is above. It’s that simple. Alternatively, you can use the local lawyer directory search on our front page to zoom in on the leading legal professionals in your county.
They can work with you and devise the best bankruptcy plan based on your specific situation. You can rest assured that these lawyers are experienced and have helped hundreds of people get debt relief. They know this arena! You are not the first person to go through this situation or be in this tough financial corner. They can help you too!
If you have any issues or questions feel free to use the live chat facility for assistance from one of our capable agents and they will send us your phone number and what transpired so we can call you back. Or complete the contact form and we will call you back in the same manner and with the same purpose to help you get the best legal assistance you need.
We know you need help and we work diligently to help out any American or anyone who reaches out to us. We believe everyone should have access to a solid and astute legal representative.