At these seminars an attorney will personally go over your
mortgage looking for a defense
to foreclosure and potentially
help you negotiate your loan or
even undo your mortgage transaction under the
TRUTH AND LENDING ACT!
There is more
than one kind of bankruptcy. You should
understand your options before deciding
which chapter of bankruptcy you are going to
file for, or if you are going to file for
bankruptcy at all. Often the consequences of
bankruptcy outweigh the benefits so it
really is a very individualized decision and
should be considered carefully. Bankruptcy
should not be a rash decision.
Chapter 7 Bankruptcy can be described
as a liquidation proceeding. There is a
certain amount of property that is exempt,
but the rest of your property would be
turned over to the bankruptcy trustee to be
sold and divided amongst your creditors.
There are some debts that can not be
discharged but you will be free of all
dischargeable debts within a few months
after filing for bankruptcy. This provides
for a fresh start and can be a great relief
for those heavily burdened with debt that
they just can’t manage any longer.
Chapter 13 Bankruptcy is more for
people who want to reorganize their debt,
but still pay it over a longer period of
time. Generally you are going to be able to
keep your non-exempt property when you file
for chapter 13 bankruptcy instead of chapter
7 bankruptcy. You only want to file for
chapter 13 bankruptcy if your income is such
that you can afford your expenses as well as
devote a portion of it to paying off the
debt covered by your chapter 13 bankruptcy.
Make an informed decision about bankruptcy
before you start talking with an attorney.
There is plenty of information readily
available about bankruptcy and by exploring
all avenues you may come across information
that causes you to reconsider exactly what
you are doing with your bankruptcy. The
information can be overwhelming and you
should definitely consult an attorney about
bankruptcy before making a final decision.
Conclusion
Are you one
of the many that suffer from insurmountable
debt and wonder if bankruptcy is an option?
Give us a call at (203) 924-6700 or
contact us.
Gary L. Seymour
Seymour Law Firm, LLC
215 Coram Avenue
Shelton, Connecticut (Ct)
203-924-6700
801-618-4472-efax (direct to
email)
gseymour@ctlawsw.com
At these seminars an attorney will personally go over your
mortgage looking for a defense
