Brewer Chapter 7 Bankruptcy Lawyers
If you are struggling with the burden of unmanageable debt, bankruptcy may be the answer for you. Through bankruptcy, millions of Americans have found a new path to a brighter financial future.
Bankruptcy may allow you to:
- Eliminate or significantly reduce your debts
- Avoid home foreclosure
- Stop a wage garnishment
- Stop an auto repossession
- Get a fresh start
To speak with an experienced bankruptcy attorney, contact Gray & Palmer in Bangor, Maine.
Chapter 7 Bankruptcy
Chapter 7 is a debt liquidation bankruptcy that allows people to completely discharge most types of consumer debt, including credit card debts, medical bills and other unsecured debts. To be eligible for Chapter 7 bankruptcy, you must meet the requirements of an economic means test. Most of our clients are eligible for Chapter 7 relief. If you are not eligible for Chapter 7 relief, you may still be eligible for Chapter 13 relief.
Chapter 13 Bankruptcy
With a Chapter 13 bankruptcy, you pay back what you can afford to pay through a three- to five-year debt repayment plan. In addition to gaining additional time to repay your debts and avoid adverse creditor actions, a portion of your debts may also be discharged as part of your Chapter 13 debt repayment plan.
Many people have used a Chapter 13 bankruptcy to stop a home foreclosure. When you file for Chapter 13 bankruptcy, you pay back your mortgage arrears gradually over the course of your three- to five-year debt repayment plan.
The Automatic Stay
When you file for Chapter 7 or Chapter 13 bankruptcy, an automatic stay goes into effect immediately which temporarily prohibits most creditors from taking further adverse collection activity, including wage garnishments, auto repossession and home foreclosure. The automatic stay may enable debtors to protect themselves from legal proceedings and collection practices.
Contact Gray & Palmer
To schedule a free 30-minute consultation with one of our Bangor bankruptcy law lawyers, call 207-945-5502 or contact us by e-mail.
* We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.