Big Island Chapter 7 Bankruptcy Attorney
When you are facing financial difficulties, it is important to find an attorney who is experienced, knowledgeable, and well respected to handle your important and confidential financial matters and provide you with the confidence that your interests are being protected. Whether your financial concerns stem from mounting credit card debt, the inability to pay your mortgage, a foreclosure — either judicial or non-judicial — or other unfortunate circumstances, I can assist you.
I am Barbara L. Franklin, and my Hawaii law firm can help you though your legal matter. I will listen to your circumstances and goals and then analyze your situation to see if bankruptcy is the best course of action for you
Hawaii Chapter 7 Bankruptcy Lawyer Can Help You Get a Fresh Start
A Chapter 7 bankruptcy is started by filing a petition and related documents with the bankruptcy court that lists all of your possessions and debts. My firm assists clients in drafting the petition and other court-required documents. My job is to make sure the documents are accurate and thorough. In return for a truthful and complete disclosure of your assets, you can get a fresh start with financial slate cleaned of most debt. The detailed income and expense disclosures as well as detailed debt structure require knowledge of the requirements and rules governing the disclosures. The complexity of a debtor’s financial situation, transfers, transactions and the impact of litigation as well as the protection of significant assets requires advance planning and analysis that I can provide using my experience. A thorough and confidential analysis may often reveal alternatives to Chapter 7 or even non-bankruptcy alternatives.
In a Chapter 7 bankruptcy, only non-exempt property may be sold by the Trustee for the benefit of creditors. Most consumer assets are exempt; however, careful review is needed to avoid inadvertent nondisclosure of assets. The vast majority of individual Chapter 7 bankruptcies allow individuals to keep all of their assets. At the end of the process, an individual’s debt is eliminated so that he or she has a new beginning. Some debts are not discharged; when those debts are identified, the impact of continued liability can sometimes be mitigated by alternatives to Chapter 7.
What Are the Benefits and Drawbacks of Filing for Chapter 7?
The greatest benefit of Chapter 7 bankruptcy is that it allows an individual’s personal liability for debt to be discharged. This provides individuals with a fresh start when their situations seemed insurmountable. While the benefit of filing for Chapter 7 bankruptcy is great, it is important to understand the consequences as well. Filing for bankruptcy has an impact on your credit report for 10 years. However, generally when clients are applying for Chapter 7, their credit scores are already problematic because of their inability to pay bills. Only rarely are assets liquidated and only non-exempt property must be liquidated to pay the allowed claims of creditors. Exemption planning is a key part of what an experienced bankruptcy attorney can do for you.
Contact a Credit Card Debt Relief Attorney
Let me help you find a solution to your financial circumstances. My office is open Monday through Friday 8:30 a.m. to 5 p.m. For an initial consultation contact my office by e-mail or by calling 808-775-0530.