Bankruptcy Attorneys in Rexburg

Guiding You Toward a Brighter Financial Future 

If you cannot pay off your debts and can never seem to escape the never-ending influx of calls from debt collectors, you are likely considering filing for bankruptcy. However, many often put off making this choice for fear that they will never be able to financially recover. The truth is that a bankruptcy might be your only hope for restoring your finances. At Avery Law in Rexburg, our bankruptcy attorneys have the insight, knowledge, and compassion to guide you through every step of the process. Moreover, to ensure your chances of success, we will help prepare you for the future, to ensure you have the best possible fresh start. 

Get started today and contact Avery Law in Rexburg at (208) 285-2085 to learn more about your options and how we can help you.

The Difference Between a Chapter 7 and a Chapter 13 Bankruptcy

Depending on the details of your circumstances, you might qualify for a Chapter 7 or a Chapter 13 bankruptcy. The biggest deciding factor in which type of bankruptcy you qualify for is your income. Low-income earners tend to qualify for a Chapter 7 bankruptcy, whereas high-income earners tend to only qualify for a Chapter 13 bankruptcy.

Below are some of the different benefits these two common types of bankruptcy provide:

• Chapter 13: If you file for a Chapter 13 bankruptcy, you will have to pay back a portion of your debts through a restructured payment plan that lasts 3 to 5 years. However, through this option, you can keep your property and halt the foreclosure process. You must have enough disposable income to faithfully make these payments or you risk losing your Chapter 13 status and the assets you hoped to keep.
• Chapter 7: All qualifying debts will be discharged and you will cease to be at risk of wage garnishment. Moreover, you will no longer receive harassing phone calls from debt collectors.Unlike a Chapter 13 bankruptcy, however, you will likely lose some of your assets when you file for a Chapter 7 bankruptcy.

When Can I Start Restoring My Credit Score?

Although a bankruptcy will remain on your credit score for several years, you can begin improving your credit score immediately.

Below are some ways in which you can start rebuilding your credit score:

• Regularly check your credit report
• Obtain a retail or secured credit card
• Pay your bills in full and on time
• Employ other types of credit

Contact Our Experienced Bankruptcy Team in Rexburg Today!

If you are burdened with an insurmountable sum of debt that you cannot begin to make a dent in, you should consider filing for bankruptcy. At Avery Law, our team will help you assess your financial situation and advise you on the best course of action, so you can achieve a better financial future. You do not have to continue living with the stress, frustration, and uncertainty associated with such tenuous situations.

Get started on your case and reach out to our law firm at (208) 285-2085 to learn more about how our bankruptcy team can assist you.