Bankruptcy Law

Considering Bankruptcy?  Contact Us for a Free initial Consultation

The United States Bankruptcy Code provides you a way to protect your property and allows you to get out of financial difficulty. The law firm of Nierengarten & Hippert, Ltd., is a federally designated Debt Relief Agency helping people in filing bankruptcy for over 30 years. Here are some answers to questions regarding bankruptcy and how it may affect you.

BankruptsyAre you Ready to get a fresh start on your finances?

If you’re hesitating to file a bankruptcy because of the stigma involved, or because you have a sense that it’s wrong, don’t hesitate any longer. Bankruptcy is nothing to be ashamed about. The U.S. Congress passed the bankruptcy laws to encourage financially troubled individuals to get their financial lives together. In many cases, the alternative is the shame and hardship of harassing creditors, negative items on your credit report, and a seemingly unending financial hardship. Remember that millions of individuals file for bankruptcy protection each year. You too can use this opportunity to put your financial life back together.

If you are ready to get your fresh start, an appointment will be set up with one of our experienced bankruptcy attorneys so we can assess your financial situation, explain your options to you, and give you a reasonable estimate of how much your case will cost.

What is Bankruptcy?

Bankruptcy is the legal process that allows you to manage and/or liquidate your bills and debts in a manner that provides you with a “Fresh Start” as provided by law and the Constitution of the United States.

Bankruptcy is a legal right

Chapter 7 is a “Straight Bankruptcy” or “Liquidation Bankruptcy.” Chapter 7 is referred to as liquidation because your non-exempt assets are liquidated (converted to cash) to pay part of your debtor’s outstanding bills. Most people who file for Chapter 7 bankruptcy don’t have any non-exempt assets to sell and if that’s the case, there is no actual sale of the property and they loose nothing.

Chapter 7 bankruptcy cases move quickly, and you may receive your debt relief in just a few months, which means you can start rebuilding your credit sooner. The discharge will eliminate most unsecured debt, but there are exceptions for things like student loans.

Chapter 7 bankruptcy may be right for you if you:

• Have no income or low income

• Have little or no money left after paying your necessary living expenses each month

• Rent or have little home equity.

• Have few assets (or no assets) outside your furniture, clothing and other necessities

•Have credit card or other unsecured debts

It is critical that you follow our advice and DO NOT:

• Attempt to conceal your property

• Destroy financial records

• Violate any court order

• Make last-minute charges on your credit cards

Bankruptcy can help you eliminate debt

If a debt is unsecured – that is, with no collateral backing it up – it can usually be eliminated in a Chapter 7 Bankruptcy. Some of these types of debts include:

• Credit card debts

• Medical bills

• Most personal loans

• Judgments resulting from car accidents

• Deficiencies on repossessed vehicles or foreclosures

• Some older tax debts

• Payday loans

• Garnishments

We will walk you through the entire bankruptcy process to ensure that you get relief from the creditors that are after you.

Contact Us for a Free initial Consultation