A Firm Dedicated To Helping You Find Debt Relief
For more than 20 years, Law Offices of William M. Gillen, PC, has been helping clients in southern New Hampshire find relief from overwhelming debt. My name is William Gillen, and my practice is entirely devoted to bankruptcy law. On this page, I’ve provided information to help you understand the basics of consumer bankruptcy, but it should not be used as a substitute for case-specific legal advice from an attorney. After reading, I invite you to discuss your options directly with me during an initial consultation.
Chapter 7 Bankruptcy Can Help You Discharge Debt
In most circumstances, a Chapter 7 bankruptcy will allow you to be absolved from the responsibility of paying most debts. Chapter 7 is the common term which refers to the section of the United States Code which governs this type of bankruptcy protection. Generally, the time frame to complete a Chapter 7 bankruptcy in New Hampshire is about 6 months, from the time of filing your petition until your discharge and the close of your case. The process requires you to attend a hearing, where you will be questioned by a trustee and possibly your creditors.
It is important to understand that in certain circumstances, the court may require you (under the supervision of a court-appointed official) to sell some of your property for the benefit of your creditors. This is one of the reasons why it is a good idea to first discuss your particular case with an attorney who understands the law and can give you knowledgeable advice.
Reorganizing And Repaying Debt In Chapter 13 Bankruptcy
Chapter 13 bankruptcy is very important to consumers because this type of bankruptcy has powerful provisions that allow you to create a reasonable repayment plan on your secured debts, such as your home and automobile loans. For example, if you are behind on your house payment and the mortgage company is threatening to foreclosure, you may be able to file a Chapter 13 bankruptcy and be allowed to cure the amount you are behind over a reasonable period of time.
When you file for Chapter 13 bankruptcy, you are allowed to reorganize your debts and repay them over a period of three to five years. This type of bankruptcy is sometimes called a “wage earners plan”, and is generally used by individuals who have a regular income but need more favorable debt repayment terms.
Contact My Firm For Knowledgeable Answers And Advice
With offices in Manchester, Nashua and Concord, Law Offices of William M. Gillen, PC, serves clients throughout southern New Hampshire. Contact my firm to get answers to your bankruptcy questions and learn how I can help you regain financial health and freedom. To schedule an initial consultation, call 603-882-3223 or reach out online.
The Law Offices of William M. Gillen, PC, is a debt relief agent. It helps people file for bankruptcy protection under the U.S. Bankruptcy Code.