Bankruptcy

The purpose of bankruptcy is to give you a “fresh start” in your financial life. Bankruptcy provides the overburdened debtor with protection from creditor harassment and relief from financial pressures. It is not avoiding responsibility, but a legitimate undertaking for putting one's life back in order - to regain dignity, not lose it.

Types of bankruptcy

There are two types of bankruptcy available to most people. The following is a brief discussion of the most common Chapters.

Chapter 7- Chapter 7 is often referred to as a “straight,” “complete” or “full” bankruptcy. Chapter 7 is generally the best option for persons who are unable to pay their debts. Following the filing of a Chapter 7 the individual is granted a Discharge of all debts, except those that are reaffirmed or are nondischargeable. A Discharge is an Order from the Court prohibiting the creditors whose debts are Discharged from taking any further action to collect the debt.

Chapter 13- Chapter 13 is often referred to as a “Debt Consolidation” or “reorganization.” A Debt Consolidation allows you to pay some or all of your debt to creditors over a period of three to five years. Debt Consolidation will allow you to reorganize your finances and reduce your monthly payments. It can help you keep property that you might otherwise lose to your creditors.

Should You Consider Bankruptcy?

Like most people, you have spent a lifetime doing the right thing, struggling to pay what you owe, perhaps even being unable to provide for the medical needs or the well-being of yourself or your loved ones.

But now, you are besieged by creditors threatening to sue you, garnish your wages or seize your property. They call you at all hours, both at home and at work. You feel your job is threatened by those intrusions. You don’t want to answer your phone. You’ve stopped opening your mail. You may not be able to solve your financial problems alone.

Bankruptcy may be the solution, and you need to talk to a professional about your options, to a person skilled in the know-how of bankruptcy law and procedures. You want to do it discreetly and without charge, before you make your decision.

You need to feel comfortable with the law office you choose to represent you, knowing they understand what you are going through, and the fears and uncertainties you are experiencing. You need to feel confident they care about how bankruptcy affects you, your career, and your family and eventual financial stability.

The good news is Brock & Stout may be able to help you keep your home, car and furniture and prevent your wages from being garnished. If you have financial problems and want to stop the harassing phone calls from creditors, you should call Brock & Stout at 1-800-884-9600 for a free consultation.

1-800-884-9600

Bankruptcy lawyers and debt consolidation attorneys serving Southeast Alabama, Southwest Georgia and the Florida Panhandle including the cities of Dothan, Enterprise, Andalusia, Ozark, Fort Rucker, Geneva, Daleville, Eufaula, Auburn, Opelika, Phenix City, Abbeville, Brewton, Troy, Headland, Opp, Greenville, Marianna, Chipley, and Bonifay.

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Alabama State Bar Rules require the following: No representation is made that the quality of legal service to be performed is greater than the quality of legal services performed by other lawyers. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.