An Overview of Consumer Bankruptcy
Learn More at RGG Law
The idea of filing for bankruptcy can be frightening. For those who are deeply in debt, however, it can be the best option for getting out from under debt obligations and finding a fresh financial start. When you come to RGG Law, our experienced lawyers provide advice and representation for individuals in Chapter 7 and Chapter 13 bankruptcy.
Learn more about our bankruptcy practice by consulting with an attorney at RGG Law. Call our Springfield, Missouri, law office toll free at 800-213-9491.
Frequently Asked Questions about Bankruptcy
Did the Bankruptcy Abuse Prevention and Consumer Act of 2005 make bankruptcy no longer an option?
No, this is not true. While the law passed by Congress in 2005 did make changes to how bankruptcy is handled, even making some people ineligible for Chapter 7 Bankruptcy, it is still a viable option for most individuals. An experienced attorney can help you determine if bankruptcy is the right option for you.
Will filing for bankruptcy ruin my credit?
After filing for Chapter 7 or Chapter 13 Bankruptcy, the bankruptcy will remain on your credit report for a period of seven years. This discourages many from seeking bankruptcy protection. However, late payments, defaults and other negative actions may already be on your credit report, and a bankruptcy will allow you to clean the slate. You can begin rebuilding your credit soon after a bankruptcy and can usually obtain lines of credit within a relatively short time and because you will be debt-free and ineligible to file another bankruptcy for a period of time.
Can I discharge every kind of debt? Taxes? Student loans?
In a Chapter 7 or Chapter 13 bankruptcy, you may discharge unsecured debts, including credit card debt, personal loans, medical bills and the remaining amounts owed in foreclosures and repossessions. In Chapter 13 bankruptcy, you may also discharge more kinds of debt, including some tax bills, as well as attorney fees. Certain kinds of debt may not be discharged in either form of bankruptcy, such as child support payments, alimony/maintenance and student loans.
Why hire an attorney for my bankruptcy?
Instead of relying on a cookie-cutter form to get you out of debt, an experienced lawyer at RGG Law can help guide you through the process. By trying to complete the process alone, you can make simple mistakes that could cost you in the long run. Do not risk your financial future. Contact us at RGG Law and let us help you get out of debt.
