Bankruptcy

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Are you struggling with credit card, medical, or tax debts?
Did you default on a previous loan modification and know you can get it back in bankruptcy?
Did you know the federal bankruptcy courts may be able to help us save your home?

If you have been struggling with overwhelming debt including credit cards, medical bills, taxes, and mortgages that you just cannot pay back, then bankruptcy may be your best option to get back on the road to financial recovery.

Filing for bankruptcy will not only eliminate or restructure your debts, but it can also help you avoid foreclosure proceedings. If you are interested in learning more about bankruptcy, Aronow Law can guide you through this difficult time.

Aronow Law can help you decide which type of bankruptcy options best suit your specific financial situation and help you to regain your financial freedom. Our knowledgeable staff will show you the benefits of bankruptcy and tailor it specifically to your family goals. Our goal throughout the bankruptcy process is to provide individuals and families with the financial relief they need for a fresh start.

Types of Bankruptcy

Chapter 7

Chapter 7 is a liquidation bankruptcy designed to discharge your general unsecured debts such as credit cards, medical bills and in some cases, tax debts. Additionally, if you have judgements against you, they can be removed in bankruptcy in order for you to be able to get a loan modification, or stop a garnishment.

The features of Chapter 7 bankruptcy program include:

  • Discharge of all unsecured credit card and medical debt with no mandated repayment
  • Discharge of some kinds of tax debt
  • Removes the liability for mortgage and car debt
  • Helps you keep your home and automobile
  • Allows you to apply for a new credit card within weeks and a new auto loan or lease within a few months after filing
  • We can submit for a loan modification during your Chapter 7 bankruptcy
  • We can surrender a financed or leased vehicle

Chapter 13

Chapter 13 is considered a reorganization bankruptcy designed for debtors with regular income who can pay back at least a portion of their debts through a repayment plan.

The features of a Chapter 13 bankruptcy program include:

  • Repayment program may be as low as 2% of your unsecured debts
  • Allows you to apply for a loan modification on your defaulted mortgage
  • Allows you to completely get rid of a second mortgage (even if you are up-to- date with payments)
  • Allows you to repay your mortgage to bring it current again
  • Allows you to reinstate a defaulted loan modification to recapture that interest rate

Aronow Law can help you decide which type of bankruptcy is right for you and negotiate all the terms of the agreement. We will guide you through the entire process and manage any comprehensive issue that may arise. Aronow Law is the advocate you need when you are considering bankruptcy.

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