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Bankruptcy

Should I file bankruptcy?

What can bankruptcy do for me?

Won’t this ruin my credit?

Will I lose my house?

Will I lose my car?

These are the kinds of questions we can answer!  At Shield Law Group, we understand that bankruptcy is an legal process, but also an emotional one!  You have questions and it can be intimidating to ask.  We understand that in desperate financial situations, you may not be able to afford to pay all of the bankruptcy fees up front, that you and your family are struggling with your everyday bills.  We will work with you to ease your financial pressures and assist you to feel the relief that is granted to you under the Federal Bankruptcy code.  We specialize in chapter 7 and chapter 13 bankruptcy cases.

Chapter 7 bankruptcy stops collection activities of your creditors and wipes out all of your unsecured debt (ie: credit cards, payday advances, or personal loans). It stops foreclosure and repossessions of your personal  property, and it allows you to return cars and houses without owing a deficiency balance.  Chapter 7 is designed to wipe out debt and give you a fresh financial start. It is important to list everyone you owe in a Chapter 7. If a debt is not listed, it is not discharged or wiped away. You can get rid of check cashing/payday loans, credit card debt, medical debt, court judgments for car deficiencies and other judgments in a Chapter 7.

Some debts are not discharged in a Chapter 7 bankruptcy for example; child support, alimony, accidents where drugs and/or alcohol were involved, criminal court debt, and the majority of student loans, as well as Federal and State taxes.  If you have a large number of non-dischargeable debts, you may want to file for Chapter 13 Bankruptcy. Chapter 13 bankruptcy stops creditors from foreclosing on property and/or repossessing  your vehicles. Chapter 13 stops wage garnishments and gives you a chance to repay  your debts while under the protection of the Federal Bankruptcy Court.