Manchester, CT Bankruptcy Lawyers
Manchester residents continue to struggle making monthly payments on their high interest credit cards. Their payments on their credit card bills never seem to end. Instead, these payments cause struggles with our ability to pay more important bills like mortgage payments or other rising regular monthly costs of living. For many hardworking Manchester families who have tried everything else, Chapter 7 bankruptcy relief is very often the only chance to obtain debt relief and a financial fresh start. The best news is that bankruptcy works. Without bankruptcy relief from overwhelming credit card debt these struggling families will never ever have their monthly household income meet their basic monthly living expenses.
If you are like most Manchester clients, you’ve tried every possible means to cope with the ever-rising cost of living. Credit card debt just keeps on coming monthly and it often seems like it just won’t ever get any better. You start to develop a feeling of hopelessness and you really don’t know how to fix it. If you’re experiencing any of the following, you need to make a hard choice and reach for relief:
- Your budget just doesn’t work
- Your bills are affecting your mental health
- You bills seem to be constantly on your mind
- You’ve tried everything else
At the Law Offices of Neil Crane, we are caring lawyers and dedicated staff that have solved the problems of Manchester residents since 1983. We’ve helped a broad range of local residents navigate the bankruptcy process and succeed in their future life through our effective legal work.
To learn more about how you can benefit from the fresh start provided by bankruptcy, call us today at 203-871-0062. We also offer an online Contact Form for your convenience to provide answers to your questions.
Bankruptcy Stops Creditors and Protects Your Assets
The proper filing of any bankruptcy petition will immediately stop all creditors and all forms of collection actions, including phone calls and lawsuits by providing an automatic stay on all efforts to collect. Chapter 7 discharges general unsecured debts; Chapter 13 alters all debts, including:
- Credit Card Debt
- Personal Loans or Payday Loans
- Older local, state and federal Tax Debt
- Lawsuit or Garnishment
- Collection Actions
- Deficiency Judgments and many other forms of debt
A properly prepared bankruptcy filing assures financial success by breaking the cycle of high interest credit card payments to allow financial resources to be allocated to more important monthly financial necessities.
BANKRUPTCY GRANTS DEBT RELIEF AND PROTECTS YOUR ASSETS in MANCHESTER, CT
All our bankruptcy cases are prepared and filed to protect your assets and belongings from creditors seeking to collect against our clients by phone calls, lawsuits or any other means.
One of the most common misconception about bankruptcy is that filing a bankruptcy will cause you to lose all your personal assets. Nothing could be further from the truth. At the Law Offices of Neil Crane, all our Chapter 7 cases are called “no assets” cases meaning that you lose no assets. Instead, all property is treated as “exempt” – untouched and “protected” from creditors. The purpose of Chapter 7 bankruptcy is to preserve what you own and eliminate what you owe.
To obtain the fullest relief available under Chapter 7, you need the most knowledgeable and experienced legal counsel available.
For a free and comprehensive initial consultation, call an experienced bankruptcy attorney at the Law Offices of Neil Crane at 203-871-0062 or complete our simple Contact Form online.
Protected Assets/Bankruptcy Exemptions Under Chapter 7 and Chapter 13
Bankruptcy Exemptions allow families to preserve the belongings necessary to jump start a new financial fresh start. Exemption laws protect your important personal assets, including:
- Home equity up to $75,000 per person, now $250,000 per person
- Household belongings
- Cars, trucks and other vehicles
- Bank accounts up to $15,450 per person
- Pension, 401Ks and other tax qualified retirement accounts
- Business entities, like LLCs, etc.
- Tools of the trade
Bankruptcy protects all the property and personal belongings you need to ensure a full fresh start.
Bankruptcy The Process
People often wonder how hard it is to obtain bankruptcy relief with the benefit of highly experienced and special bankruptcy counsel. At the Law Offices of Neil Crane, bankruptcy relief is smooth, 100% predictable, with a guaranteed outcome known well in advance. The hardest part of any bankruptcy case is the first call to our caring attorneys with a request for help. The first step is the hardest step in any bankruptcy case. From there, our office, with your help, can prepare your case within days or weeks of your first call or online contact with our team.
We can start by phone, online or in person with a free consultation and a full description of your problem, and the first draft of your financial solution.
At the Law Offices of Neil Crane, our bankruptcy cases don’t ever require an in-person attendance by you. All work is done by our office with help from you and an eventual five-minute meeting with us, you and the system by telephone only.
Initial Contact:
This is a phone call, online or in-person meeting with Attorney Neil Crane to discuss all the details of your story and your problem. We discuss options and generate solutions. Attorney Crane is always available and will make a meeting with you by any means within hours or days of your first contact with our office.
Documentation:
The system requires customized paperwork crafted to your case that will cover your case from start to finish. We provide a specialized document map crafted to your specifics within your first retention of the office. It’s perfected to fit you – all on one simple roadmap.
Credit Counseling:
This is a short 20 minute online questionnaire followed by a second course also online or by phone after your debts have been eliminated by our filing of your case. Debts are gone immediately upon the filing of a Chapter 7 case.
Consultations:
All our clients are invited to have as many consultations by phone or in person as they wish. At our office, there has never been any limit on calls or meetings – If you have questions, we have answers, now and whenever. All finished cases are fully reviewed with you in detail to your signed satisfaction.
Petition:
This is the court document that we prepare granting you the right to alter or eliminate debt, all as outlined, known and approved by you in advance. We do the first complete draft of all cases within 3-5 days or shorter by phone or in person at your convenience. At the Law Offices of Neil Crane, all our petitions are thorough and perfected.
Filing:
This is the submission of the petition and all the special documents created to re-start your financial life. Relief is immediate on the day and hour of your filing – The filing creates your recovery and your new life. At the Law Offices of Neil Crane, all our bankruptcy petitions are immediately effective upon filing.
Meeting of Creditors:
This is a short “phone meeting” with you, our office and the Bankruptcy Trustee assigned to your case. All Bankruptcy Trustees know and trust our office and its four-decade commitment to short and perfect phone interviews. The meeting is predictable, respectful and done by phone with our direct involvement. With our quality preparation and presence on the phone, your meeting will start with “Thank you for the documents,” and end five minutes later with “Good luck.” At the Law Offices of Neil Crane, your first meeting of creditors is always your last meeting with the Court system. The rest is up to us.
Credit Rebuilding:
Rebuilding Credit Without Debt.
At the Law Offices of Neil Crane, we will show you how bankruptcy will actually improve your credit score by solving your debt-to-income ratio. It’s a lifelong lesson for financial happiness. However unfortunate, bankruptcy provides the greatest opportunity for real credit repair and the highest credit scores available to any consumer with or without a prior bankruptcy filing. The credit card industry and other finance companies can’t wait to take you back – for new high interest debt. Bankruptcy teaches our hardworking Manchester clients how to avoid living under the cloud of debt and never-ending monthly payments.
With our advice and guidance, our clients become financially smarter. We assist all our clients with rebuilding credit without debt and keeping the highest credit scores available.
Call us at 203-871-0062 or go online to arrange for your free consultation. You will always speak to an attorney.
Common Questions About Qualifying For Chapter 7 Bankruptcy
Our team is here to help you understand the challenging process of qualifying for Chapter 7 bankruptcy. At The Law Offices of Neil Crane, we are committed to providing clear and straightforward guidance to those considering bankruptcy. Whether you’re seeking information for yourself or a loved one, our Manchester, CT bankruptcy lawyers are available to assist you every step of the way.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy, often referred to as liquidation bankruptcy, allows individuals to discharge most of their unsecured debts, such as credit card balances, medical bills, and personal loans. This type of bankruptcy is designed to give a fresh financial start by eliminating debts that can no longer be managed. In a Chapter 7 case, a trustee is appointed to oversee the process, which may involve liquidating non-exempt assets to pay off creditors. However, many people who file for Chapter 7 are able to keep most or all of their property due to exemptions that protect certain assets.
Who Is Eligible For Chapter 7 Bankruptcy?
To qualify for Chapter 7 bankruptcy, you must pass a means test, which assesses your income and expenses to determine if you have the ability to repay your debts. If your income is below the median level for your state, you automatically qualify. If your income is above the median, the means test will further evaluate your financial situation. Additionally, you must complete credit counseling from an approved agency within 180 days before filing. It’s essential to provide accurate and thorough information to meet eligibility requirements.
How Does The Means Test Work For Chapter 7 Bankruptcy?
The means test is a two-step process that first compares your income to the median income for a household of your size in your state. If your income is below the median, you qualify for Chapter 7. If your income exceeds the median, the test then deducts certain allowable expenses from your income to determine your disposable income. This calculation helps determine if you have enough disposable income to repay your debts under a Chapter 13 repayment plan. You may qualify for Chapter 7 if your disposable income is too low to fund a repayment plan.
What Debts Can Be Discharged Under Chapter 7 Bankruptcy?
Chapter 7 bankruptcy can discharge most unsecured debts, including credit card debt, medical bills, personal loans, and certain types of tax debts. However, some debts are not dischargeable, such as child support, alimony, certain tax obligations, and student loans in most cases. Secured debts, like mortgages and car loans, are not typically discharged unless you surrender the collateral. Understanding which debts can be discharged is crucial for determining if Chapter 7 is the right option for your financial situation.
How Long Does The Chapter 7 Bankruptcy Process Take?
The Chapter 7 bankruptcy process typically takes about four to six months from filing to discharge. After filing your petition, you will need to attend a meeting of creditors, usually within 20 to 40 days. During this meeting, the trustee and creditors may ask questions about your financial affairs and the information in your bankruptcy documents. If there are no objections or complications, you will receive a discharge order, which officially eliminates your dischargeable debts. Working with experienced Manchester bankruptcy lawyers can help streamline the process and address any issues that arise.
Contact Us For Guidance On Chapter 7 Bankruptcy
At The Law Offices of Neil Crane, we understand the stress and uncertainty that financial difficulties can bring. When determining whether Chapter 7 bankruptcy is the right solution for you, it will be important to explore your options with our dedicated team. Our Manchester bankruptcy lawyers, who have had over 15,000 successful cases, are here to provide the guidance and support you need to achieve a fresh start. If you have any questions or are ready to begin the process, we offer 24/7 live call answering, contact us today to schedule a consultation and take the first step toward financial freedom.
