Chapter 7 Bankruptcy allow you to eliminate debts, except for the ones that you and the creditor agree that you will continue paying on, which is call a reaffirmation. A skilled Bankruptcy Attorney can tell you which if any debts are not dischargeable in bankruptcy. Steve will help determine this with you during your initial consultation. Most people lose few if any assets in Bankruptcy. Because of Steve’s extensive collections experience he knows how debt collectors can work against you and how to stop them.
Chapter 13 is a reorganization of a person’s finances whose debts are primarily personal. Through Chapter 13 a person’s debts may be structured to repay past due amounts on your home, vehicles or other secured assets. Through this chapter we are able to stop foreclosures, repossessions, debt collection and wage garnishments. Interest rates can also be adjusted on secured items such as vehicles. At times a second mortgage can be eliminated altogether.