FAIRFIELD, CT BANKRUPTCY LAWYER
Like many Americans, residents throughout Fairfield, Connecticut have been affected by today's tough economy. When financial hardship strikes, it is easy to give up hope. Mounting credit card debts, past-due mortgage and auto loan payments, and other financial obligations can make it seem like there's no way out of the situation. Constant phone calls and letters from bill collectors can make an already stressful situation much worse. But there is hope for Fairfield residents who are finding it hard to meet their financial obligations each month.
Filing for personal bankruptcy can put an end to creditor harassment and foreclosure, and get you back on track to a better tomorrow. At The Law Offices of Mark M. Kratter, LLC, we have extensive experience representing Fairfield residents throughout the bankruptcy process, and are ready to put that experience to work for you. We offer free initial consultations, so you have nothing to lose by discussing your case with a seasoned Connecticut bankruptcy lawyer.
Ending creditor harassment
When you file for personal bankruptcy in Connecticut, the bankruptcy court will issue what is called an automatic stay. For as long as the automatic stay is in place, your creditors are prohibited from taking any collection actions against you. This includes foreclosure, repossession, phone calls, letters, e-mails, and any other means they might use to collect on your debts.
The Connecticut bankruptcy code
In the State of Connecticut, two of the most common forms of personal bankruptcy are Chapter 13 and Chapter 7 bankruptcy.
In Chapter 7 bankruptcy, you'll determine which of your assets are exempt and which are non-exempt. An example of an exempt asset may be your primary residence or your car. Your non-exempt assets may be liquidated to pay off your creditors, often at a much lower balance than what you currently owe.
Under Chapter 13 bankruptcy, you'll work with your bankruptcy attorney to develop a repayment plan that your creditors and the Connecticut bankruptcy court find favorable, and will work with your unique financial situation. Your monthly payments will be reduced and consolidated into a bankruptcy trust, and when you've completed your repayment plan, any remaining eligible debts will be discharged.
Contact us today for a free consultation
If you're struggling to make ends meet, speak to a knowledgeable Fairfield bankruptcy lawyer who can help you understand your options and make an informed decision. Call The Law Offices of Mark M. Kratter, LLC, at 203-678-8135 to schedule a free case evaluation.
