Chapter 7 Bankruptcy
Anteski Law Firm handles bankruptcy cases in Fort Smith, Fayetteville, and Little Rock, Arkansas. All bankruptcy cases are filed in Federal Court. Bankruptcy protects consumers from their creditors collections attempts. If you are in debt and your finances are out of control, filing for bankruptcy may solve your problems. Bankruptcy gives you a fresh start by eliminating and/or restructuring your debt. Before you file bankruptcy, you must take a consumer credit counseling course. Then, after you file bankruptcy, you must take a debtor education course. Often, these courses are taken over the telephone or the internet in less than one hour. You will have your certificate of completion of each course emailed to your attorney, who will file the certificates in your bankruptcy case.
Chapter 7 and Chapter 13 are the two (2) most common types of bankruptcies. If you are a family farmer or a business owner, ask me about the other types of bankruptcy that may be available for you to file.
Chapter 7 is a liquidation. By filing Chapter 7, most unsecured debts are completely eliminated. You can choose to reaffirm your secured debt to keep your home and/or your car. It usually takes less than 6 months to receive a discharge.
To qualify for a Chapter 7 bankruptcy, you must meet certain guidelines for income and expenses.
By filing for bankruptcy, your creditors should stop harassing you, garnishing your paycheck, or seizing your property to pay off a debt. In addition, filing for bankruptcy can help you to catch up on late bills, stop the repossession of your car, and prevent the foreclosure of your home.
By filing for bankruptcy, you can get a fresh start.
Chapter 13 Bankruptcy
Chapter 13 is a restructured repayment plan for your debt. The purpose is to give you time to catch up on late payments and keep necessary possessions, such as a home, from foreclosure. In a Chapter 13, the debtor follows a bankruptcy plan that lasts from 3 to 5 years. The debtor will send monthly payments to a bankruptcy Trustee, who will send the money to the creditors. When the plan is completed, the debtor's secured debts should be paid off, the home mortgage should be current and resumed by the debtor, and most remaining unsecured debts like credit cards and medical bills will be discharged, meaning you will not be obligated to pay back your unsecured debts anymore. To qualify for a Chapter 13 bankruptcy, you must have a source of income. This is required because Chapter 13 requires that you have the means to repay a portion of your debts under a payment plan arrangement. If you are unable to pay your payments under the plan, your bankruptcy case will be dismissed. Therefore, it is important to set up a realistic repayment plan...one in which you can be successful.
If you would like a free telephone consultation, you can reach Attorney June Anteski at (479) 963-3055 or you can leave a message for me at (479) 452-8064 or (479) 357-1881.
I have three (3) locations to serve you:
Anteski Law Firm
3505 E. Chism Street
Paris, AR 72855
Anteski Law Firm
2501 Meadow Lane
Barling, AR 72923
Anteski Law Firm
1916 Whippoorwill Drive
Greenwood, AR 72936
Please bring the following documents with you to your appointment:
1. A copy of your last two (2) years of income tax returns complete with W-2's.
2. Your paycheck stubs for the last six (6) months.
3. Your last bill for every debt that you owe.
4. A list of every piece of property you own, both real estate and personal property, such as vehicles, bank accounts, and household furniture.
5. A copy of any Court Order or Judgment that may have been entered against you.
6. Your driver's license and social security card.
7. The Kelly Blue Book value of your vehicle(s).