Chapter 7 Bankruptcy Lawyer in Maine
Your Plan of Action for Filing Chapter 7 Bankruptcy Debt Relief
When you need a fresh start and feel as if you have no more options, McCue Law Office can help. We can educate you on your choices for debt relief, including filing for Chapter 7 bankruptcy in Maine. We offer free evaluations by phone, email, or in-depth consultations with an attorney. If you can’t seem to get ahead of the game, if you feel stuck, or if you feel like you are sinking further behind financially, we can help! We will happily answer any questions or concerns you may have about Chapter 7 bankruptcy, and help you create a plan of action for a brighter future!
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy means that your debts are wiped clean and you get a fresh start regarding your finances. In this type of debt relief, a trustee collects and liquidates any property of yours that isn't exempt. The total proceeds of your liquidation are distributed to your creditors, excluding a commission taken by the trustee, and your debt can be discharged. However, alimony, child support, certain taxes, student loans, fraudulent debts, and other items cannot be discharged. The best way to know and understand your options is by calling McCue Law Office in Hampden, ME. We can help you get your fresh start starting with one phone call to our office!
Exempted assets that cannot be liquidated in a Chapter 7 bankruptcy:
homestead, insurance, alimony/child support, pensions, personal property (clothing, household goods, furniture, animals, crops, etc.), public benefits, tools of trade, wages. (these exempted assets may be subject to value limitations).
What Can I Keep After I File for Chapter 7 Bankruptcy?
If you have a large amount of credit card debt, Chapter 7 bankruptcy may be the right choice for you. If you are considering Chapter 7, you may be wondering if you may be able to keep any of your assets after you file. You are able to keep certain secured debts in a reaffirmation agreement, such as your car or house. This means that you cannot discharge that debt again for at least eight years, and you must continue to pay it normally. The payments must be up-to-date and not delinquent in order for your property to be reaffirmed. These agreement can be overlooked during the first part of 60 days after the agreement is filed with the court, or if the court issues an order of discharge.
Free Consultations for Find Out if Bankruptcy is Right for You
If you need help stopping a home foreclosure or a wage garnishment, preventing repossession, or eliminating credit card debt, the law office of Carl McCue in Hampden, ME, can help. There are many reasons why people may need to file for bankruptcy, whether it is divorce, income or job loss, medical bills, tax problems, or an unexpected event. Unmanageable debt occurs for many reasons, but bankruptcy allows you to take control over your finances and organize them in a way that works for you. If you would like to learn more about your options, our phone number is (207) 862-5290, and our consultations are free!