Overwhelming Financial Burdens? Will Declaring Bankruptcy Help?
If you are having trouble paying your bills, facing overwhelming credit card debt, or perhaps have experienced problems which are causing a financial crisis, you may be considering declaring bankruptcy as a solution.
While owing money is not a crime, it is in your best interest to retain a competent attorney with bankruptcy experience and knowledge to provide skilled guidance about the best options for you. Although declaring bankruptcy can be a good choice for some, it may or may not solve your problems. With more than 25 years of experience in bankruptcy law, attorney Susan M. Williams can help provide a solution tailored to your specific situation.
What is Bankruptcy?
Essentially, bankruptcy is a legal status. It can be applied to a person or business entity which cannot repay the debts owed to creditors. Usually, the debtor initiates the request, and it may be imposed by the
court.
For individuals and businesses, two main types of bankruptcy options prevail:
- Chapter 7, which entails the basic liquidation of assets, although not all assets may be subject to this. It is regarded as “a fresh start.”
- Chapter 13 bankruptcy: the debtor files a plan of reorganization, commonly used to save a home by stopping foreclosures and wage garnishments. This type of bankruptcy requires repayment of the debt, on a schedule determined by the court.
Because these, and other types of bankruptcy involve complicated, specific and consequential processes, this step should not be take lightly. Connecticut Attorney Susan M. Williams can provide the sound legal guidance and expertise needed to create a strategy that meets your needs, for resolving your financial burdens and getting you back on track.
Contact Connecticut Bankruptcy Law Attorney Susan M. Williams, LLC
Don’t let the stress and worry of overwhelming debt ruin your life. Serving those in Connecticut and Massachusetts, the law office of Susan M. Williams is ready to assist you in managing your financial matters and providing you with a new start. Please contact us today for a free initial consultation. To schedule your appointment, please call us at 860-265-4764