Bankruptcy Law | Hailstone Legal Group

In the USA it is common that we accumulate loans to purchase cars, buy homes, get an education, pay medical bills and to take part in many other life experiences. While there is nothing inherently wrong with any of these decisions, circumstances can change and too much debt may cause you to default on some of your obligations. When you find yourself facing overwhelming debt, it can be difficult to know what to do next. It is natural to have anxiety over your situation and the aggressive tactics of debt collectors make this worse by harassing you with phone calls and threats of lawsuits and wage garnishment.

If you are in a situation where you cannot effectively manage your debt commitments, bankruptcy may be a solution. The experienced team at Hailstone Legal Group can work with you to determine if it is right for you, what type you should file, or if you have other debt relief options that would be better suited to your needs.

Debt Relief with through Bankruptcy

Filing bankruptcy can be a very complicated and emotionally frustrating process, but when done correctly it can be the first step to a fresh start which allows you to regain your financial stability. There are many challenges involved in taking this step so having the guidance of an experienced bankruptcy lawyer who can handle the process for you will enable you to secure a favorable outcome.

One option is Chapter 7 bankruptcy which allows you to wipe away most of your unsecured debt and start over debt free. Filing Chapter 7 means you do not have to restructure your debt but instead most debts are discharged or canceled. To calculate whether this is the appropriate course of action, Hailstone Legal Group will review your finances to evaluate your income and expenses. If a financial evaluation shows no ability to pay your debts, after living costs are considered, then Chapter 7 could be the best and only option to discharge your debts.

The other option is Chapter 13 bankruptcy. This allows someone who has a regular income but is straining to keep up with their debt payments to enter a repayment plan that is manageable for them based on their budget. Chapter 13 can offer advantages over Chapter 7 such as stopping foreclosure on your home or repossession of your vehicle. It may also be necessary to use the Chapter 13 process if a means test determines that your income is too high to file for Chapter 7.

About Hailstone Legal Group

Trying to figure out what type of bankruptcy is best suited to your situation or if other options may be available can be difficult without years of experience. If the wrong choice is made or your case is not handled correctly disastrous consequences can result.

Whatever your financial problems are it can be stressful, but there is help available. Filing bankruptcy can bring you relief from harassing creditors and their aggressive debt collection efforts. Together, we will assess your financial situation and determine the best course of action to fit your unique needs and begin building a brighter financial future for you.

Schedule your free consultation with Hailstone Legal Group now.