Personal Bankruptcy Lawyers

As debt piles and your financial situation becomes more dire, bankruptcy becomes more and more of a possibility, if not the only option for escaping the weight of the debt. Many people have never considered personal bankruptcy and have little idea how the process proceeds or where to start.

At Delgado & Romanik , our attorneys guide you through the bankruptcy process, from the very first step of selecting what type of bankruptcy to file to finalizing the bankruptcy plan and getting back on your feet. Our lawyers are prepared to sit down with you, listen to your story and help you understand every option available to you.

For more information about personal bankruptcy and a detailed plan for getting back on your feet, call our law offices today for a consultation.

Chapter 7 Vs Chapter 13

Personal bankruptcy can generally follow one of two available paths: Chapter 7 bankruptcy or Chapter 13 bankruptcy.

Chapter 7 bankruptcy allows you to discharge all unsecured debt, excluding student loans. It is designed for individuals who are below a certain income threshold established by the U. S. government and for businesses in certain cases.

Chapter 13 bankruptcy is designed for individuals who do not qualify for a Chapter 7 bankruptcy under the income threshold or for those who have filed a Chapter 7 within the previous 8 years. In a Chapter 13 bankruptcy, the individual (debtor) has to repay a portion of the debt to creditors in a 3-year or 5-year repayment plan. At the end of the repayment plan, the remaining debt is discharged. Additionally, an individual may qualify to have a second mortgage or lien stripped or discharged from a home or to have the mortgage modified through a Chapter 13 bankruptcy. The option to strip or discharge second mortgages or liens is no longer available under a Chapter 7 bankruptcy.

Our lawyers will help you understand which form you qualify for and what it will mean to your specific situation, assets and family.

Divorce And Bankruptcy

Financial problems and marital problems often go hand in hand. Many couples facing financial struggles end the marriage in divorce, and many divorcing couples take on so many divorce-related expenses that they must look at bankruptcy.

Our lawyers will help you understand all options for dealing with your financial struggles, as well as timing considerations surrounding when you should file for bankruptcy in relation to your divorce.

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