Rittgers & Rittgers Can Assist You With Your Bankruptcy Needs

Whether its filing Chapter 7 or Chapter 13, our lawyers will work with you to understand your financial situation to help you decide which option is best. Many people believe when they file for bankruptcy they lose everything, but that isn't the case. Regardless of whether you file Chapter 7 or Chapter 13, there are ways to potentially retain most of your property. Here is a quick overview of Chapter 7 and Chapter 13:

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most commonly filed personal bankruptcy case. It focuses on assisting those individuals in debt with little to no income to pay back to their creditors. Chapter 7 offers individuals a fresh start. In order to qualify for this, a debtor must meet certain financial requirements. If their "current monthly income" is more than the state median, then they must complete a "means test" to determine their eligibility. This means test prevent individuals abusing the system. Even if an individual isn't eligible for Chapter 7, they can file for Chapter 13.

Chapter 7 bankruptcy is a basic liquidation of an individual's property for the purpose of repaying creditors and getting rid of any remaining debts. Almost everything cane be discharged in a Chapter 7, including credit card debt, back rent, unsecured personal loans, overdraft fee on bank accounts, store charge cards, personal loans, medical debts, and some tax debts. Student loans, child support obligations, tax debts under three years, and personal injury debts caused by intentional acts and/or OVI cannot be discharged.

Chapter 13 Bankruptcy

If a debtor has a steady income and property that they may want to retain then Chapter 13 Bankruptcy may be the better option. During a Chapter 13 bankruptcy, you will be able to keep your property but will have repayment plan for all or some of your debts within a 3 to 5 year period. Chapter 13 is a reorganization of your debts into debts that will be repaid (and possibly reduced) and into those that will be discharged. The payment plan is based on the debtor's income.

Debt Relief

If you decide to ultimately file bankruptcy, we will work to immediately begin the process. Whether it is under Chapter 7 or Chapter 13, once we wile you will obtain immediate relief from excessive phone calls, utility shut-offs, foreclosure proceedings, wage garnishment, vehicle repossession, and debtor harassment.

We're Here to Help

The attorney's at Rittgers & Rittgers are happy to meet with you and learn more about your financial situation to determine the best course of action. Financial difficulties are stressful, and the determination whether to file bankruptcy is major decision. We can walk you through these tough times and assist you.

What Should I Bring to the Free Consultation

  • List of debts-credit cards, medical bills, mortgage, vehicle, personal loans, or any other outstanding money owed.
  • Household expenses-food, clothes, utilities, rent, medical, and any other payments you make on a monthly basis
  • Income tax returns-for at least the last two years
  • Proof of income-including paystubs from all employment or any other forms of income