Enfield Bankruptcy Attorney Provides Options to Hartford County Residents

Connecticut Bankruptcy Lawyer Offers Guidance to Those Drowning in Debt

Are you thinking about filing for bankruptcy in Connecticut but don't know if it's the proper solution for you? Enfield Bankruptcy Attorney Susan M. Williams will help you weigh the options and apply them to your unique financial situation.

Chapter 7

Chapter 7 bankruptcy, also known as liquidation, is a relatively quick method to wipe out unsecured debt, such as credit card balances and medical bills, in return for giving up all your non-exempt property to the bankruptcy trustee, who will sell it and use the proceeds to pay your creditors. Chapter 7 can be filed only once every seven years, and most people who choose it have little or no available non-exempt property or equity – that is where the term "no asset bankruptcy" comes from.

Chapter 13

Chapter 13 bankruptcy, also known as reorganization, takes between three to five years to accomplish. Instead of giving up property, a debtor will repay all or a portion of his debt during the bankruptcy period and live within a strict budget that is monitored closely by the bankruptcy trustee.

If a debtor can't make the required monthly chapter 13 payments, the bankruptcy will fail and the debts will remain, unless the case is converted to a chapter 7 bankruptcy. Chapter 13 is typically chosen by people who have fallen behind on their secured debt payments and want to propose a plan to catch up on the payments over time and keep their property.

Are you considering bankruptcy in Hartford County but need a knowledgeable point of view? Attorney Susan M. Williams has over 30 years of experience in providing debt relief solutions to residents of Connecticut and Massachusetts. Contact her online or call 860-265-4764 to schedule a free consultation today.