84 answers, to be precise. They are available in this free 36-page digital booklet, which we can instantly email to you. If you are having difficulty paying your bills, or if your wages are being garnished, you should contact the experienced Arkansas Bankruptcy Lawyers at Niblock & Associates. If a creditor is attempting to foreclose on your home or repossess your property, bankruptcy may be a necessity and you should contact us immediately.
We are here for you and we can help. Contacting an Arkansas bankruptcy lawyer is an important decision. We will be happy to provide you with a free consultation to determine the best possible option for your situation. If you would like to discuss your options under the Bankruptcy Code in detail, contact the experienced Arkansas Bankruptcy Lawyers at Niblock & Associates today.
Property of any kind where a creditor can repossess it if the debtor doesn't make payments as agreed. Example would be a home mortgage or vehicle loan. When you need an experienced Arkansas Personal Injury Lawyer, you can count on the personal injury lawyers at Niblock & Associates to be sure you get the compensation you deserve for your injuries.
We are here for you and we can help. Contacting an Arkansas bankruptcy lawyer is an important decision. We will be happy to provide you with a free consultation to determine the best possible option for your situation. If you would like to discuss your options under the Bankruptcy Code in detail, contact the experienced Arkansas Bankruptcy Lawyers at Niblock & Associates today.
Property of any kind where a creditor can repossess it if the debtor doesn't make payments as agreed. Example would be a home mortgage or vehicle loan. When you need an experienced Arkansas Personal Injury Lawyer, you can count on the personal injury lawyers at Niblock & Associates to be sure you get the compensation you deserve for your injuries.
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I was born and raised in a God fearing middle-middle class family in Mabelvale, Arkansas.
My Dad worked at a factory and retired from the Marine Corps as a Sergeant Major and my mom worked as a teacher's aid with the school system.
My Mom & Dad made sure I was in Church every Sunday and taught me right from wrong.
I got beat when I did wrong and I thank God Almighty for the discipline my parents gave me.
Hard work was assumed incur family.
I cut grass & threw a paper route before I went to work at a Mexican restaurant at age 14.
My Dad worked at a factory and retired from the Marine Corps as a Sergeant Major and my mom worked as a teacher's aid with the school system.
My Mom & Dad made sure I was in Church every Sunday and taught me right from wrong.
I got beat when I did wrong and I thank God Almighty for the discipline my parents gave me.
Hard work was assumed incur family.
I cut grass & threw a paper route before I went to work at a Mexican restaurant at age 14.
As experienced Arkansas Bankruptcy Law Firm, we understand that there are five (5) Chapters under the Bankruptcy Code, and each one has it's own unique set of options.
Chapter 7 is a liquidation of non-exempt property; Chapter 9 is for Cities and Municipalities; Chapter 11 is for individuals or businesses who owe large sums of money; Chapter 12 is for family farmers; and Chapter 13 is for individuals to reorganize their debts to keep their property.
The most common Chapters under the Bankruptcy Code are Chapter 7 & Chapter 13; therefore, this web site will concentrate on those two Chapters.
Chapter 7 is a liquidation of non-exempt property; Chapter 9 is for Cities and Municipalities; Chapter 11 is for individuals or businesses who owe large sums of money; Chapter 12 is for family farmers; and Chapter 13 is for individuals to reorganize their debts to keep their property.
The most common Chapters under the Bankruptcy Code are Chapter 7 & Chapter 13; therefore, this web site will concentrate on those two Chapters.
Chapter 7 Bankruptcy is commonly referred to as "straight liquidation".
What this means is the Chapter 7 Trustee will take all of your "non-exempt" property, if there is any, and sell it to pay your debts; however, in 98% of the cases handled by this firm, there is no "non-exempt" property for the Trustee to sell.
Only in very, very unusual circumstances does anybody lose property to the Trustee, because the property is "non-exempt".
In order to keep secured property in a Chapter 7, you must, usually, be current on your payments, enter into a "re-affirmation agreement" with the secured creditor and continue making your payments.
What this means is the Chapter 7 Trustee will take all of your "non-exempt" property, if there is any, and sell it to pay your debts; however, in 98% of the cases handled by this firm, there is no "non-exempt" property for the Trustee to sell.
Only in very, very unusual circumstances does anybody lose property to the Trustee, because the property is "non-exempt".
In order to keep secured property in a Chapter 7, you must, usually, be current on your payments, enter into a "re-affirmation agreement" with the secured creditor and continue making your payments.
As bankruptcy attorneys, we know that Chapter 13 is commonly referred to as a "wage earner's reorganization".
It allows people, within certain debt limitations, to consolidate and reorganize their debts and protect secured property necessary to running a household or business.
First, you may not have the attorney's fee and filing fee necessary to file a Chapter 7 Bankruptcy.
Second, you want to keep your property and pay back a portion of your debt.
Third, you failed the second rung of the "Means Test" indicating that you have "Disposable Income" which prohibits you from filing a Chapter 7 Bankruptcy.
It allows people, within certain debt limitations, to consolidate and reorganize their debts and protect secured property necessary to running a household or business.
First, you may not have the attorney's fee and filing fee necessary to file a Chapter 7 Bankruptcy.
Second, you want to keep your property and pay back a portion of your debt.
Third, you failed the second rung of the "Means Test" indicating that you have "Disposable Income" which prohibits you from filing a Chapter 7 Bankruptcy.
This detailed and practical comparison of the two most common bankruptcy options - Chapter 7 vs 13 bankruptcy - explains which situations each chapter is best for.
Chapter 7 is the most popular chapter of bankruptcy among the majority of debtors.
A Chapter 7 bankruptcy will eliminate the vast majority of debts in a quick amount of time and allow the debtor to start fresh.
Debtors prefer this chapter over Chapter 13 because it is faster and more affordable.
An ideal Chapter 7 debtor is someone who may have recently been divorced, lost their job, had their income reduced significantly, went through a tough medical issue that left them behind on their normal bills or has been foreclosed on or had a vehicle repossessed.
Chapter 7 is the most popular chapter of bankruptcy among the majority of debtors.
A Chapter 7 bankruptcy will eliminate the vast majority of debts in a quick amount of time and allow the debtor to start fresh.
Debtors prefer this chapter over Chapter 13 because it is faster and more affordable.
An ideal Chapter 7 debtor is someone who may have recently been divorced, lost their job, had their income reduced significantly, went through a tough medical issue that left them behind on their normal bills or has been foreclosed on or had a vehicle repossessed.
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