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Bankruptcy Lawyers in Jonesboro, AR Working Through Debt Relief With You

Overcoming debt can be a daunting task, one that may seem impossible when you’re struggling to make ends meet – but rest assured, you are not alone! Countless individuals face these same financial hardships; it’s important to share in the struggles and successes of those around us.

There are many reasons why someone might have debt. For example, they might have made a bad investment or had medical expenses that insurance did not cover. But it is important to understand that there are ways to solve the problem. One of those options is bankruptcy.

Bankruptcy is a legal process that allows individuals or businesses to eliminate or repay their debts under the protection of the bankruptcy court.

There are two types of bankruptcies that consumers can file: Chapter 7 and Chapter 13.

Chapter 7 bankruptcy is also known as liquidation bankruptcy. This type of bankruptcy lets you get rid of your unsecured debts, like credit card debt and medical bills.

Chapter 13 bankruptcy is a type of bankruptcy that allows you to repay your debts over a three- to five-year period.

Both types of bankruptcies have their own advantages and disadvantages, so it is important to speak with an experienced bankruptcy attorney to determine which type of bankruptcy is right for you.

At wh Law, our team of experienced bankruptcy lawyers will work with you to understand your unique financial situation and help you decide if bankruptcy is the right option for you.

We will also guide you through the bankruptcy process and help you navigate the complex legal system.

If you are struggling with debt, contact wh Law today to schedule a free consultation with one of our experienced bankruptcy attorneys. Call us today at 501.891.6000 to get the legal help you deserve and start on a path toward a better financial future.

What Bankruptcy Cases Can a Jonesboro Bankruptcy Attorney Help Me With?

When it comes to bankruptcy cases, there are mainly two types of cases that a bankruptcy lawyer can help you with if you are a consumer.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is a type of bankruptcy that allows you to discharge your unsecured debts, such as credit card debt and medical bills. To qualify for Chapter 7 bankruptcy, you must be under a certain threshold for your income and assets. If you qualify for Chapter 7 bankruptcy, you will have an automatic stay implemented on your assets.

The automatic stay is a critical part of the bankruptcy process. The automatic stay stops creditors from harassing you and trying to collect on your debts. It also prohibits them from seizing your assets. This gives you time to assess your financial situation and decide what type of bankruptcy is right for you. If you choose to file for Chapter 7 bankruptcy, the automatic stay will stay in place until your case is discharged.

There are many benefits that come with filing for Chapter 7 bankruptcy as opposed to Chapter 13 bankruptcy, including:

  • You can discharge your unsecured debts, such as credit card debt and medical bills.
  • The automatic stay goes into effect immediately, stopping creditors from harassing you or seizing your assets.
  • You will have a fresh start financially.

Chapter 7 bankruptcy is common among consumers but it is not for everyone. Contacting our law firm can help you determine if Chapter 7 bankruptcy is the right type of bankruptcy for your particular situation.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is a type of bankruptcy that allows you to repay your debts over a three- to five-year period. This type of bankruptcy is also known as a reorganization bankruptcy. In order to qualify for Chapter 13 bankruptcy, you must have a regular source of income and your unsecured debts must be below a certain limit. Chapter 13 bankruptcy is a good choice for people trying to consolidate their debts into a singular payment plan. Developing a repayment plan for Chapter 13 bankruptcy can be tricky. It involves working with a bankruptcy trustee to develop a plan that is affordable for you and meets the requirements of the bankruptcy court.

The repayment plan is a key part of Chapter 13 bankruptcy. It outlines how much you will pay each month to your creditors and over what period of time the payments will be made. The repayment plan must be approved by the bankruptcy court before it can go into effect.

There are many benefits that come with filing for Chapter 13 bankruptcy as opposed to Chapter 7 bankruptcy, including:

  • You can consolidate your debts into one monthly payment.
  • You can repay your debts over a three- to five-year period.
  • You can keep your assets, such as your home or car.
  • The automatic stay goes into effect immediately, stopping creditors from harassing you or seizing your assets.

If you have questions about which type of bankruptcy is right for you, contact our trusted and experienced bankruptcy law firm today to help you through your bankruptcy process and get the debt relief you deserve.

What Are the Steps Involved in Filing for Bankruptcy in Jonesboro?

To file for bankruptcy, you need to have some paperwork. This list includes your debts, income, and assets. You also need to complete a credit counseling course and take a means test to see if you can have Chapter 7 bankruptcy.

Once you have all the paperwork you need, you will need to file your petition for bankruptcy with the court. This can be done online or in person. Once your petition has been filed, you will need to go to a hearing called the 341 meeting of creditors. At this hearing, your creditors will have a chance to object to your bankruptcy.

If the court approves your bankruptcy, you will not have to pay your debts back and creditors cannot take any action against you.

In order to file for bankruptcy, there are many intricate details you need to get right to ensure your bankruptcy goes smoothly. Hiring an experienced bankruptcy lawyer can help you meet strict deadlines and make sure your best interests are protected. To get answers to bankruptcy questions you may have, reach out to wh Law today to learn more.

What Does a Jonesboro Bankruptcy Lawyer Do?

A bankruptcy lawyer can help you with everything you need to do to file for bankruptcy. They will help you get all of the paperwork together and file your petition with the court. A bankruptcy lawyer can also represent you at your 341 meeting of creditors and help you plan for what comes next after bankruptcy.

Bankruptcy lawyers know a lot about creditors and can help you if you have questions. If you are thinking about bankruptcy, contact wh Law today. We will help answer your questions.

At our Jonesboro law firm, a knowledgeable bankruptcy lawyer can assist you in having the following common debts discharged:

Medical Debt

If you have a lot of medical debt, you are not the only one. Many people have medical debt and file for bankruptcy to get rid of it.

You may have had an accident or gotten sick and now you have very expensive medical bills. This could be making it hard for you to pay your other bills too. Bankruptcy could help get rid of your medical debt.

Credit Card Debt

Credit card debt can be very hard to get out of. Even if you make the smallest payment each month, it could take years to pay off the debt because of the high-interest rates.

If you’re having trouble paying for everything you need, and your credit card debts are too high, bankruptcy might be a solution. A Jonesboro bankruptcy lawyer can help you get rid of your credit card debts so you can start over.

Student Loan Debt

If you have trouble paying your student loans every month, bankruptcy might help you get some relief.

It is not easy to get rid of student loan debt by filing for bankruptcy, but it is possible in some cases. A lawyer who knows a lot about bankruptcy can help you figure out if you qualify to have your student loan debt discharged.

Tax Debt

If you owe taxes from before, the IRS may be asking for the money. But there is good news! Sometimes people don’t have to pay taxes they owe if they meet certain requirements.

With the help of a qualified bankruptcy attorney, you can determine if your tax debt qualifies for discharge and navigate through the procedure with ease.

If you are thinking about bankruptcy, it is a very big decision. You should not make this decision without first talking to a lawyer who knows about bankruptcy. The lawyer can help you understand if this is the right choice for you. Make an appointment to talk to the Jonesboro Bankruptcy lawyer today.

Which Bankruptcy Lawyers Can Help Me?

If you cannot pay your bills and you feel very stressed, you might want to think about bankruptcy. This is when the court says you do not have to pay some or all of your debts. A lawyer can help you with this.

However, bankruptcy is a hard decision to make. You should not do it without thinking about it first. A lawyer can help you decide if you should file bankruptcy and help you through the process.

Filing for bankruptcy, whether it is bankruptcy code Chapter 7 or Chapter 13, can be incredibly beneficial to you. Bankruptcy can put a stop to the daily struggle of debt and give you a chance to start fresh.

If you are considering filing for bankruptcy, it is important that you have an experienced bankruptcy lawyer on your side. wh Law can work with you to put a stop to harassing calls from creditors, stop your house from getting foreclosed, and even put an end to wage garnishment. While bankruptcy can provide temporary relief for the aforementioned things, it can also provide permanent financial relief going forward, allowing you to start fresh.

You should know that you are not alone. Millions of Americans struggle with debt. No matter why you are struggling with debt, everyone deserves a second chance. We can help ensure you meet eligibility requirements for the type of bankruptcy you intend on filing for and advise you on the best course of action.

We don’t believe in a singular approach for all clients-we know every client and situation is different. We will work with you personally and confidentially to develop a strategy that is best for you.

Get in touch with us today to schedule a consultation with one of our experienced bankruptcy lawyers. We are here to help you through this difficult time and get you on the path to financial freedom. Call us today at 501.891.6000 to get the legal help you deserve.

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