Bankruptcy Attorneys in Caldwell

Providing the Guidance You Need to Restore Your Financial Health

No one ever wants to file for bankruptcy, but it is sometimes a necessary step for restoring your finances and improving your credit score. At Avery Law, we understand the hesitation some feel when considering bankruptcy. It is often treated as taboo and many often believe that it is nearly impossible to get back on your feet in the aftermath. However, the truth is that filing for bankruptcy might be your only chance to conquer your debts.

Get started on filing for bankruptcy today and contact Avery Law in Caldwell today at (208) 285-2085 to request a consultation with one of our experienced attorneys.

The Difference Between a Chapter 7 and a Chapter 13 Bankruptcy

If you are exploring your bankruptcy options, you likely already learned that there is more than one type you can file for, depending on your situation. If you cannot qualify for one, chances are you might qualify for the other.

Here is a quick overview of a Chapter 7 and a Chapter 13 bankruptcy:

• Chapter 7: Also known as a liquidation bankruptcy, a Chapter 7 bankruptcy allows debtors to wipe out most of their unsecured debts. However, if your income is too high or you have too much disposable income, you might not qualify for this type of bankruptcy.
• Chapter 13: If you do not qualify for a Chapter 7 bankruptcy because you are a high income-earner, chances are you qualify for a Chapter 13 bankruptcy, which is also known as a reorganization bankruptcy. Unlike a Chapter 7 bankruptcy, you will have to pay back a portion of your debts through a repayment plan that lasts between 3 to 5 years. Any unsecured debt left after the repayment plan ends will likely be discharged.

Are All Debts Dischargeable?

Most unsecured debts, such as medical bills, promissory notes, credit card bills, are dischargeable in a bankruptcy. However, there are certain types of debt that cannot be wiped away.

Below are some debts that bankruptcy generally cannot discharge:

• Unpaid child support or alimony
• Tax debts
• Penalties or fines incurred for breaking the law
• Debts incurred as a result of drunk driving
• Student loans

If most of your debts are not dischargeable, bankruptcy might not be a suitable option for you, so make sure you understand what you owe to ensure this is the best choice for your situation.

Schedule a Consultation with One of Our Bankruptcy Attorneys

If you are struggling with debt and cannot seem to ever get ahead of it, the bankruptcy team at Avery law in Caldwell will help you obtain the financial relief you need. Our attorneys have more than six decades of collective experience and a commitment to helping clients overcome their debt. You can rely on our law firm to guide you through every step of the process, so you can avoid making any unnecessary or damaging mistakes.

Get started today and contact us at (208) 285-2085 to schedule an initial case review with a knowledgeable member of our legal team.