When you’re facing significant financial troubles, it can feel like drowning in a pool of difficult decisions and processes. Although it’s often the last resort, it can be the first step in rebuilding your finances. For trusted and effective legal guidance, reach out to the knowledgeable and compassionate bankruptcy attorneys at Natural State Law, PLLC. We’ll listen carefully while offering guidance towards a proper legal approach that will help you achieve your goals.
Chapter 7 bankruptcy often allows you to receive a clean financial slate, blocking any creditors from garnishing your wages or hounding you for money. However, it also makes it difficult to hold on to any non-exempt property.
Although it’s a much longer process, a Chapter 13 filing allows you to gradually repay the money you owe while retaining ownership over your property. We can help advocate for the best plan for you.
Chapter 11 bankruptcy focuses on reorganizing the debts of a business so it can remain operational. For businesses looking for a plan to move forward or for the opportunity to rework their operation if they had some breathing room, Chapter 11 bankruptcy can provide a process to address problems and work towards their solutions in a more regimented environment with court oversight.
Chapter 12 bankruptcy has strict requirements on eligibility regarding income sources, amount of debt, and the types of operations that are eligible (such as farmers or fishermen). For those who qualify, Chapter 12 can be the right tool to help start over and rebuild.