While significant changes occurred in the bankruptcy laws with the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act, most notably with the imposition of a “means test” and credit counseling requirements, our firm finds that most of our clients are eligible for the type of bankruptcy protection and relief they need. Essentially, while there are a few more hoops to jump through, the two main elements of bankruptcy protection–the automatic stay and the discharge of debts–are still available.
Bankruptcy protection is available to individuals, families and businesses. The primary purpose of bankruptcy is to give honest debtors a “fresh start” financially by allowing them to keep their exempt assets and discharging their debts. Typical examples of debts that can be discharged are:
- Credit card debts
- Medical bills
- Personal unsecured loans
- Utility bills
- Uninsured motor vehicle accidents
- Debts owing to former landlords and
- Other general unsecured debts.
Please be advised that certain debts are not discharged in bankruptcy, including child support, criminal restitution, certain taxes, debts incurred through fraud and most student loans.
WHICH CHAPTER OF THE CODE IS BEST FOR YOU?
The two most common forms of bankruptcy protection sought by individuals are:
- Chapter 7 liquidation, and
- Chapter 13 reorganization
Since each client’s situation is unique, our firm will be able to recommend the best option after we have had a chance to meet and learn about your situation. We offer a free initial consultation. Once you have retained the Law Offices of Dantzman and Dantzman, you will be able to refer your creditors’ calls to us, and begin to regain a sense of normalcy in your life.
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