Bankruptcy Law

Chabner Legal Group is sensitive to the fact that monetary difficulties can affect everyone. Unexpected medical bills, job loss, divorce, and the COVID-19 pandemic are just some of the causes of crushing debt for many Americans. Bankruptcy is a scary prospect for many people. However, remember that this is a frequent and workable option for many individuals.

Let our team of seasoned bankruptcy lawyers guide you through the procedure and provide you with the debt relief you deserve. We will look at your situation, weigh your options, and work with you to develop a strategy tailored to your specific requirements.

 

We offer a wide range of debt relief solutions

At Chabner Legal Group, we recognize that deciding to declare bankruptcy is not made lightly. This is why our bankruptcy and debt assistance services cover a broad spectrum of possibilities. Together, with the help of our skilled lawyers, you may decide on the best course of action.

chabner-legal-bankruptcy-law-page

Chapter 7 Bankruptcy:

  • Also known as "liquidation"
  • Involves the sale of non-exempt assets to pay off creditors
  • Any remaining debt is discharged
  • It allows for a fresh start financially

 

Chapter 13 Bankruptcy:

  • Also known as "reorganization"
  • It involves creating a manageable payment plan to pay off creditors over a period of 3 to 5 years
  • Allows for the individual to keep their assets while paying off debt
  • It can be a good option for those with a regular income

 

Eligibility Requirements for Filing Bankruptcy

It's important to note that not everyone is eligible to file for bankruptcy. To qualify for Chapter 7 bankruptcy, individuals must pass a means test. This test compares an individual's income to the median income of their state, and if they fall below the median income, they qualify to file for Chapter 7 bankruptcy.

For Chapter 13 bankruptcy, there is no means test, but there are limits on the amount of debt that can be discharged. Individuals with regular income and a significant amount of unsecured debt may be eligible for Chapter 13 bankruptcy.

Another important consideration when deciding which type of bankruptcy is best for your situation, is to consider the exemption laws in the state where you live; this can impact the assets you can keep. Our attorneys will work with you to understand the exemption laws in your state and help you make the best decision for your financial future.

 

Bankruptcy through Chabner Legal Group

At Chabner Legal Group, we understand that the decision to file for bankruptcy can be difficult. That is why we offer a complimentary case evaluation to help you understand the best path forward for your unique situation. Our team of experienced attorneys will work with you every step of the way.

Don't let overwhelming debt control your life any longer. At Chabner Legal Group, we are here to help you achieve the debt relief you need and regain control of your finances. Contact us today for a free initial consultation and take the first step towards financial freedom.