Drop us a line for a free consultation!
Mr. Haubert is an outstanding attorney. I have had the pleasure of being represented by his office for over a year. In this time the firm has taken on exceedingly difficult tasks, and I am extremely grateful for Brandon Haubert for having the knowledge and experience to handle them flawlessly. The peace of mind that I receive from using the firm to protect my family's future is priceless. Anyone who is looking for a trust worthy, honest, and fair priced attorney should use Brandon Haubert. I truly believe that he cares about my family's future.
I really enjoyed meeting with Jessica and Brandon yesterday. It’s not the best circumstances, but they really put me at ease. They did an emergency filing for me which took a lot of stress off of me. I would really recommend wh Law.
Brandon and Jessica helped so much. They filed an emergency bankruptcy with $0 down and stopped my creditors fast. Stopping the stress was so worth it.
Courteous, knowledgeable, and helpful. They made a very difficult time a lot easier. I highly recommend them if you find yourself in need.
A chapter 7 bankruptcy case does not involve having to repay all of your debts. Instead, the bankruptcy trustee gathers and sells your nonexempt assets and uses the money from those assets to pay people you owe money to. In addition, the Bankruptcy Code and Arkansas Law will allow you to keep certain “exempt” property. However, the trustee will liquidate any nonexempt property you have.
Who is eligible for Chapter 7 Bankruptcy? If you make below the amounts below you are not subject to the means test and you can file for Chapter 7 bankruptcy.
1 Person Family $42,546
2 Person Family $52,621
3 Person Family $58,931
4 Person Family $66,712
5 Person Family $75,112
6 Person Family $83,512
7 Person Family $91,912
8 Person Family $100,312
9 Person Family $108,712
10 Person Family $117,112
If your household income is above the number above, you can still file Chapter 7 bankruptcy, if you pass the means test.
An individual cannot file under chapter 7 or any other chapter, however, if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor’s willful failure to appear before the court or comply with orders of the court, or if the debtor voluntarily dismissed the previous case after creditors sought relief from the bankruptcy court to recover property upon which they hold liens. 11 U.S.C. §§ 109(g), 362(d) and (e). In addition, no individual may file for bankruptcy under chapter 7 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. 11 U.S.C. §§ 109, 111. There are exceptions in emergency situations or where the U.S. trustee (or bankruptcy administrator) has determined that there are insufficient approved agencies to provide the required counseling. If a debt management plan is developed during required credit counseling, it must be filed with the court.
One of the primary purposes of bankruptcy is to discharge certain debts to give an honest individual debtor a “fresh start.” The debtor has no liability for discharged debts. That simply means that once the bankruptcy court has granted a discharge of your debts, you are no longer responsible for paying them. In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. 11 U.S.C. § 727(a)(1). Although an individual chapter 7 case usually results in a discharge of debts, the right to a discharge is not absolute, and some types of debts are not discharged. Moreover, a bankruptcy discharge does not extinguish a lien on property.
Chapter 13 bankruptcy is also called a wage earner’s plan. It helps people with regular income to create a plan to repay all or part of their debts. If you are reaffirming debt in a Chapter 7, then your payment in a Chapter 13 may not be more than a Chapter 7, in fact it may be less.
This depends on several issues:
If you are behind on your payments and you want to keep that property, then you need to file Chapter 13 instead of Chapter 7. Chapter 13 lets you stop foreclosures and repossessions, and lets you catch up on your payments. If your car was recently repossessed, then you can get it back.
Chapter 13 may save you money. Sometimes you can lower the amount you owe on your car if you purchased the care more than 910 days before you file bankruptcy. Also, you can lower your interest rate on your loan.
What if you don’t have the money to pay a bankruptcy lawyer? A Chapter 13 is cheaper to file. When you file a Chapter 13, you make your payment to the bankruptcy trustee and they pay your lawyer fees.
Drop us a line for a free consultation!
Click to get your free consultation!
Bad things happen to good people. If you are having problems paying your bills and it has you stressed, worried, or uncertain; then we can help you get a fresh start. At wh Law | We Help, we have helped clients deal with debt problems. We can help save homes from foreclosure and automobiles from repossession.501.891.6000
Unsecured Debts Debts that are unsecured (e.g. credit cards, medical bills, etc.) are those which are not secured (secured means if you do not pay, the can repo or foreclose, e.g cars, house, etc.) anything you own. The creditor does not have a right to repossess anything if you don’t pay the debt. In general, it’s easier to deal with…
Sen. Dick Durbin has proposed a new bill that has an escape clause for people with student loans that are forced to carry the debt to their graves. 44,000,00 Americans owe on student loans. The amount owed is more than $1.5 trillion. The only kind of dent that exceeds this figure is credit card debt. The act is supported by…
If your wages are currently being garnished, or if you are in danger of having them garnished, the attorneys at wh Law | We Help can stop the process. We have attorneys who specialize in bankruptcy, who will use the bankruptcy code to prevent your wages from being taken from you, once and for all. A little known feature of…
Automobile dealers and lenders like to try and scare people into scrambling to make up behind payments by threatening to repossess a vehicle. Don’t let yourself be fooled. When you are behind on payments and don’t know how to make them up, filing bankruptcy can give you more time to figure out how to get caught up on your payments. …
The attorneys here are WH Law all have families and small children, so we understand the importance a stable home has for a family. Don’t let your concerns about bankruptcy prevent you from keeping your home. Many attorneys don’t understand the ins and outs of the bankruptcy code, but we do. If you are behind on payments on your mortgage,…
Creditor harassment is a major reason people seek bankruptcy assistance. Phone calls at home, work, threatening letters, lawsuits, garnishments, and bank seizures can make your life more difficult than it already is. When the creditor harassment is too much, call an experienced bankruptcy attorney and get some relief! Once you file your bankruptcy petition, all creditor harassment must stop immediately….
In most cases, if you have already decided to file for bankruptcy, continuing to make credit card payments is a waste of money. So,if you are going to file bankruptcy, then you should probably stop paying your credit cards. But if you are still undecided about bankruptcy or may not file your case for a long time, stopping your credit…
There’s no such thing as a “medical bankruptcy”. Even though you’re filing a bankruptcy case to get rid of overwhelming medical debt, you won’t be able to limit the case to just outstanding medical bills. The bankruptcy laws are designed to be as fair as possible to the debtor (the person who files the bankruptcy case) and to the creditors….
If you’re thinking of filing bankruptcy because of heavy tax debts, there are some things you need to know before doing so. The Bankruptcy Code makes it pretty difficult for you to get your tax debts discharged, because the government’s trying to get paid. However, it is possible to get some of your tax debts wiped out. You just have…
This is question everyone asks and for good reason. Everyone is worried about keeping their property and we don’t blame them. You worked hard for it. Most states require you to use state exemptions when you file for bankruptcy. Arkansas allows you to choose between Arkansas or Federal exemptions. However, you must pick one system or the other (you cannot…
It should not be a surprise to anyone that one of the most important concerns of those considering filing for bankruptcy is privacy. It is true that bankruptcy is public information. Like most court cases, they are public record, you can view court records and sometimes newspapers publish notice of legal filings. Even though Bankruptcies are a public record they…
It’s one of the most commonly asked student loan questions: Can you discharge your student loans in bankruptcy? The short answer: normally no, student loans are not dischargeable. Student loans are now the second highest consumer debt category – behind mortgages, but ahead of credit card debt. Unlike other consumer debt such as credit card and mortgage debt, however, student…