Bankruptcy Law

A common misconception is that people who are filing bankruptcy simply do not want to pay their debts; however, that is rarely true. Most people want to live up to their end of the deal. Sometimes, however, people find themselves in a situation where they cannot afford the debt they have accumulated. If you, your spouse, or your small business, find yourself in a situation where you are unable to pay what you owe to creditors, whether because of illness, divorce, loss of employment, or other situations, bankruptcy can help you get back on your feet.

At The Graham.Nuckolls.Conner. Law Firm, PLLC, Attorney Timothy Heinle can you help you by examining your current financial situation, and assisting you in determining which type of bankruptcy, if any, will best meet your needs. Using the benefits of bankruptcy, we can make the harassing telephone calls and mailings from debt collectors stop, help you to discharge much of your debt or reorganize the debt you do have into manageable payments, and help you to hold on to as much property as you are entitled to under the law.

There are several main types of bankruptcies, including Chapter 7, Chapter 13, and Chapter 11:

  • Chapter 7 bankruptcy allows you as an individual, or a small business holder, to eliminate much of your debt, but also to protect and hold on to certain property. Using Chapter 7 bankruptcy, Attorney Heinle can help you to discharge unsecured debts, including credit card balances, medical expenses, loans from banks or stores, and other types of unsecured debt.
  • Chapter 13 bankruptcy allows debtors to retain much of their property, particularly their house and car when able, and to reorganize their debt, by entering into a three-to-five-year payment plan with affordable monthly payments. Chapter 13 bankruptcy often allows the debtor to not only eliminate some debts, but also to cure missed payments on secured debts, such as mortgage or car loan payments, and to have lower monthly payments going forward.
  • Chapter 11 bankruptcy is similar to Chapter 13 bankruptcy in that it allows the debtor to reorganize their debt and get back on their feet; however, it is designed for small businesses.
  • Cramdowns In Bankruptcy
  • Reaffirmation Agreements

For a free consultation and to learn what your options are to begin the process of getting back onto solid financial ground, contact Attorney Timothy Heinle with The Graham.Nuckolls.Conner. Law Firm, PLLC at (252) 757-3535 today.