BankruptcyThe attorneys at our firm know that you have not come to this website without exhausting every other way out of the situation that you find yourself. You probably have come to this page because your debts have spiraled out of control. Maybe it’s because something unexpected has happened. You may have lost your job, or gotten sick. Perhaps you lost much of what you had acquired through you adult life to a divorce or just have made some bad financial decisions. These situations can lead to many sleepless nights for most people.

The attorneys at GDWG have been practicing bankruptcy law for over 20 years and will help you gain the fresh start in life that you have been struggling to achieve. As bankruptcy attorneys, Dean C. DelCollo and Raymond D. Armstrong will handle your case from beginning to end. They will always be available to listen to your concerns and treat them as if they were their own. Whether it’s Chapter 7, Chapter 13, loan modifications or debt negotiation, our legal team will be there with you every step of the way until your situation is resolved.

Introduction to Bankruptcy

Bankruptcy is a federal court process that can help consumers eliminate overwhelming debts or establish a plan to repay them. Depending on your income and circumstances, bankruptcy laws may give you a way to erase many financial obligations and start fresh.

CHAPTER 7 and 13

Individuals may be able to file for one of two kinds of bankruptcy-Chapter 7 “liquidation” bankruptcy or Chapter 13 “repayment” bankruptcy.

In Chapter 7, the bankruptcy court forgives most debts that are not secured by assets or property ( such as your house or car). In addition, you are allowed to retain certain “exempt assets.” Under Chapter 7, a court-appointed trustee takes possession of your non-exempt property, arranges for its sale or liquidation, and is responsible for paying as many of your debts as possible with the proceeds.

Chapter 13, sometimes referred to as “wage earner” bankruptcy, may be your only choice if the court determines you have the income to repay at least a good portion of your debts. Filing a Chapter 13 bankruptcy allows you to pay your debts in installments over an agreed-upon time, usually three to five years. The court must approve your plan to repay all or part of the money you owe. Many people who want to keep property, such as a house or a car, turn to Chapter 13.

Our firm does NOT charge a fee to discuss your situation. Please contact Giordano, DelCollo, Werb & Gagne, LLC to schedule your FREE consultation and take the first step to achieving the fresh start that you deserve.