What Can Bankruptcy Do For You?

If you are struggling with debt and facing aggressive creditor tactics, it may seem like there is little hope. Phone calls, lawsuits, threats of wage garnishment, foreclosure and repossession — debt can make life miserable.

Remember, there is hope and the law is on your side. By filing for bankruptcy, you can eliminate debt, or get it under control, while getting creditors off your back.

The attorneys at The Burns Law Firm, PLLC, in Benton are here to help make your debt relief goals a reality. We can guide you through all aspects of the Chapter 7 or Chapter 13 bankruptcy process.

Bankruptcy And The Automatic Stay

As soon as you file for bankruptcy, a powerful legal injunction called the automatic stay goes into effect. The automatic stay makes it illegal for creditors to take legal action against you. It stops:

  • Creditor harassment
  • Wage garnishment
  • Bank account levies
  • Home foreclosure
  • Car repossession

After you file for bankruptcy, your creditors are not even allowed to contact you directly. They must contact your attorney instead.

Which Chapter Is Right For You?

The two most common bankruptcy chapters for individuals are Chapter 7 and Chapter 13:

  • Chapter 7 bankruptcy wipes out unsecured debt such as credit card and medical debt. Chapter 7 is means tested, which means that your income and assets must fall below a certain level in order for you to qualify. A Chapter 7 bankruptcy typically takes about four months from the date you file until your debt is discharged.
  • Chapter 13 bankruptcy is a debt reorganization plan in which the debtor pays off all or a portion of his or her debt over a three- to five-year period. Chapter 13 is often appropriate for those who do not qualify for Chapter 7 and have homes and other assets they wish to keep.

Our lawyers will work with you personally to help you explore all of your debt relief options. If you decide bankruptcy is right for you, we will provide you with knowledgeable representation throughout the process.

Get Started On The Road To Debt Relief

We offer free initial consultations for bankruptcy cases. Get started today by calling our Arkansas bankruptcy lawyers at 501-574-9945 or by contacting us online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.