The Top Chapter 7 Bankruptcy Attorney
in Conway, Arkansas
Your Local Chapter 7 Bankruptcy Attorney Serving Central Arkansas
What Is Bankruptcy?
Bankruptcy is a generalized term for a federal court procedure. Filing bankruptcy can help a person by discarding debt or making a plan to repay debts. A petition may be filed by an individual, by spouses together, or by a corporation or other entity. If you can prove that you are entitled to it, the bankruptcy court will protect you during your bankruptcy proceeding. During this proceeding, it is important to hire the right lawyer.
That's where we come in. James Wyre in Conway, Arkansas is here for you.
Filing For Bankruptcy Questions and Concerns
We know the decision to file for bankruptcy can feel scary and overwhelming. To offset this uncertainty, it is necessary to gather as much information as you can about the process. There are different options available to you when it comes to filing for bankruptcy. Knowing what questions to ask will help you in the long run. Knowledge is power.
Disclaimer: there is an abundance of great information about filing for bankruptcy available online. However, there is also a lot of misinformation that can be harmful. The last thing you need is to add further stress to your financial situation by searching for easy answers. When researching, it is best to proceed with caution and seek the help of a professional. Call the attorney's at James Wyre in Conway, Arkansas! We are here to answer any of your questions or concerns.
CHAPTER 7 BANKRUPTCY ELIGIBILITY
To qualify for relief under chapter 7 of the Bankruptcy Code, the debtor may be an individual, a partnership, or a corporation or other business entity. 11 U.S.C. §§ 101(41), 109(b). Subject to the means test described above for individual debtors, relief is available under chapter 7 irrespective of the amount of the debtor's debts or whether the debtor is solvent or insolvent. An individual cannot file under chapter 7 or any other chapter, however, if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court, or the debtor voluntarily dismissed the previous case after creditors sought relief from the bankruptcy court to recover property upon which they hold liens. 11 U.S.C. §§ 109(g), 362(d) and (e). In addition, no individual may be a debtor under chapter 7 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. 11 U.S.C. §§ 109, 111. There are exceptions in emergency situations or where the U.S. trustee (or bankruptcy administrator) has determined that there are insufficient approved agencies to provide the required counseling. If a debt management plan is developed during required credit counseling, it must be filed with the court. One of the primary purposes of bankruptcy is to discharge certain debts to give an honest individual debtor a "fresh start." The debtor has no liability for discharged debts. In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. 11 U.S.C. § 727(a)(1). Although an individual chapter 7 case usually results in a discharge of debts, the right to a discharge is not absolute, and some types of debts are not discharged. Moreover, a bankruptcy discharge does not extinguish a lien on property, according to uscourts.gov
Hearings and consults are all done by the attorney.
I review your personal situation and try to give clear advice.
Wipe Out Debt With An Honest Bankruptcy Attorney In Conway, Arkansas
Designed to protect individuals and married couples unable to cover their monthly expenses. Anyone, even hard-working, honest people can encounter a reverse of fortune, unforeseen circumstances or adversity placing them in a bad financial situation. Filing for Chapter 7 bankruptcy protection may help you wipe out your debt and give you a roadmap to financial recovery. If we identify that Chapter 7 is your best option, I will guide you through the filing process, court hearings, and dealing directly with your creditors to reduce their harassment and your stress. Unlike large attorney offices with a cookie-cutter Chapter 7 bankruptcy approach, I believe in good old-fashioned, personal care and hard work moving your case through the bankruptcy court in the quickest, most cost-effective way possible. Request a consultation with James Wyre in Conway, Arkansas today by clicking the button below.
CLIENT FORMS
For most cases, the new bankruptcy code requires proof of filing for the 4 most recent tax years. Regardless of whether you are planning on filing for Chapter 7 or Chapter 13 bankruptcy, you can get a head start by requesting those transcripts as soon as possible as the IRS response time can be very slow.