Grants Pass Bankruptcy Attorneys
The decline of the economic climate has had a significant impact on everyone, and nearly all of those suffering are diligent middle-class people who – because of circumstances out of their control – do not have a choice other than to file a claim for bankruptcy. Shlesinger & deVilleneuve helps those struggling with financial ruin resulting from losing a job, unexpected medical bills, or losing equity in a home or property.
The most prevalent reasons that bankruptcy is filed are:
Medical bills: This is actually the number one reason for bankruptcy; overwhelming medical expenses cause 62% of all of bankruptcies; 78% of the people declaring bankruptcy for this reason have health benefits.
Loss of work: The decline of the economy triggered a lack of jobs, major layoffs, and terminations all over the country; and many people are still not able to find work that is financially equivalent to their previous career.
Divorce/Separation: Getting divorced can create a huge financial burden because of legal costs, dividing assets, spousal and child support, in addition to the expenses from maintaining two individual households.
Foreclosure or short sale: The ebb and flow of the real estate market can leave people owing mortgages they can’t pay, along with properties that have not maintained their value.
Poor/Excess usage of Credit: The surplus spending and usage of credit cards, car payments, and installment debt is a main reason for many bankruptcies.
Unforeseen expenses: In some instances, there are just unplanned losses; one example would be damages caused by a natural disaster which are not recoverable due to the fact that the property wasn’t insured.
If you’re swimming in a sea of debt and worrying about losing your home or property, it could be time for you to think about declaring bankruptcy. The filing process for bankruptcy is intended to either do away with your debt, or to repay your debt based on a manageable schedule. At Shlesinger & deVilleneuve we have a highly reputable bankruptcy division completely dedicated to the bankruptcy filing process; we tackle nearly 1,000 bankruptcy cases on a yearly basis! We can assist you in determining which sort of bankruptcy you should look at and which one serves your very best interest. At Shlesinger & deVilleneuve, we are able to advise you on how to effectively negotiate what is very often a tremendously complicated and lengthy process.
What options do I have with bankruptcy?
There are two main categories of personal bankruptcy: They are Chapter 7 and Chapter 13. While these both can provide some relief, it is essential to realize that both types will have a negative impact on any credit searches on you for seven years, and some specific debts cannot be discharged. Examples of such non-dischargeable debts generally include taxes owing, support payments for children or ex-spouses, and education loans.
1. Chapter 7: Filing a Chapter 7 bankruptcy can release several of your debts; this means you won’t be required to re-pay them. There is one catch, “non-exempt” property such as some or all real estate must be sold and the benefits of the sale must be applied toward your debt. One of many disadvantages of filing for Chapter 7 is you will lose valuable properties, however, you are allowed to maintain possession of “exempt” properties, such as a car, and any personal belongings. The primary advantage of a Chapter 7 filing is that you will be discharged from many if not all of your financial obligations.
2. Chapter 13: Making a claim for Chapter 13 bankruptcy primarily establishes a payment plan; you can expect to be responsible for paying back either a portion or all of the debt that you owe over a three to five year period. The drawbacks of filing for Chapter 13 are that it is more costly to file, and you will be living on a restrictive budget. The main advantage of Chapter 13 is you will likely be permitted to keep your home or property.
If you are facing a Chapter 7 or Chapter 13 bankruptcy, the law offices of Shlesinger & deVilleneuve has a comprehensive division dedicated only to bankruptcy. Led by one of our extraordinary lawyers, Kevin Swingdoff, our law firm expertly guides nearly 1,000 people through the process of bankruptcy each year. Kevin has over 25 years of practice experience with these types of cases and is committed to helping improve the lives of individuals who are facing a financial emergency. Initial review/discussion is free of charge. Don’t spend another sleepless night. Contact us – we are happy to talk with you the same day to schedule an appointment and discuss our fee schedule for managing your case. At Shlesinger & deVilleneuve we will see that you receive the help that you need to gain a brand new start!
Fill out the form below to schedule a free in-person bankruptcy consultation with attorney, Kevin Swingdoff.
Schedule a Free Bankruptcy Consultation
Required fields marked with an *.