Have you had enough of fighting off debt collectors and scraping to get by? Are you ready to get your finances back in order so that you can move on with your life? Declaring bankruptcy may be the solution you have been looking for. While it’s not an easy out, it can be the first step towards regaining control of your life. The bankruptcy team at Steffens Law Office is ready to help you take that first step.
You don’t have to be a credit abuser or wild spender to find yourself drowning in debt. Unfortunately, sometimes just providing for your family and paying bills can become overwhelming. If you are facing insurmountable debt, find out if bankruptcy is right for you. We will answer your questions, explain the process, and help you decide if this is your best course of action—all from the comfort of your own home.
No Need to Come to Our Office
Many of our bankruptcy clients have told us that they hesitated to ask for help because they didn’t think bankruptcy was for them, didn’t understand how it worked, and were embarrassed to admit they needed help. We understand these feelings. That’s why we make it so easy to get the information you need to decide if bankruptcy is the path you need to take—right from your living room! We offer a free initial consultation during which we will take a look at your situation and review your options. Not only is this consultation done completely over the phone and by email, but all of our bankruptcy services are handled this way. You won’t have to take time off work to meet with us. In fact, you will never have to come into our office. We handle everything from beginning to end over the phone and by email. It couldn’t be easier for you to secure your financial future with the help of a legal professional.
How Federal Bankruptcy Laws Work for You
Depending on your assets and income, you will either file for Chapter 7 or Chapter 13 bankruptcy. The key distinction is that Chapter 7 is for people with fewer assets and does not require repayment of debt through a court-imposed plan. People at a higher income level will have to file Chapter 13 bankruptcy and will have to make payments to creditors as ordered by the bankruptcy court. More specific information about each type follows.
- Chapter 7. Commonly referred to as straight bankruptcy or liquidation, Chapter 7 bankruptcy may be filed by an individual, corporation, or a partnership. The bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds to pay creditors in accordance with the provisions of the Bankruptcy Code. The Bankruptcy Code will allow the debtor to keep certain exempt property, including the family home, a vehicle, necessary clothing, appliances, furniture, and work tools. The trustee will liquidate the debtor's remaining assets.
- Chapter 13. If the household income is greater than the median household income in the state of Nebraska, the debtor will have to file Chapter 13. Under Chapter 13 bankruptcy, individuals and creditors agree to a court-imposed plan that requires some or all debts to be repaid over five years, with an appointed trustee assigned to monitor the repayment process.
Bankruptcy filings will continue to be recorded on an individual’s credit report for seven years in the case of Chapter 13, and up to ten years for Chapter 7.
How Our Attorneys Can Help
Filing for bankruptcy is not a get-out-of-jail-free card, but it may be the right solution for you at this time. Find out by consulting with our experienced Nebraska bankruptcy attorneys. We will review your finances and let you know what we think. We don’t charge for this initial consultation and you are under no obligation to us. You have nothing to lose by filling out our form and reaching out to us, but you may finally find a way to get out from under crushing debt. Take that important first step by contacting us today.