Have you been faced with the decision to file for bankruptcy? We know this decision does not come lightly to you. It can mean significant time has gone into this decision, not to mention the stress and emotions attached to it. We respect and understand how hard this can be, and we are here to help lift the weight off of your shoulders. At Hinkle Law, PLLC, we have multiple years of experience in helping clients just like you to untangle the facts surrounding their debt, come up with a plan that works for them, and get them back to living their lives as they had before, but with much less stress.
Contact Hinkle Law today at (304) 396-0720 to answer your specific questions and begin the process of getting back on track.
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The most common forms of bankruptcy that can be filed are Chapter 13 and Chapter 7. Read below to learn more about each.
Chapter 7 is typically the most common of the two, and that is because it is relatively easy and quick to complete. In most cases, it can take only a few months to complete the process. Less time also involved typically means it’s a cheaper process for consumers. What can be unappealing to consumers about Chapter 7 is that you most likely will lose one or more of your assets. This means that you sign over things like your home, your car, and other assets of value, such as antiques or collector’s items, to fulfill your debt obligations. Chapter 13 Bankruptcy requires a more lengthy process and can be expensive. There is a reason that it is appealing to consumers, however, and that is that you don’t necessarily need to lose your assets. If you are behind on your home or your car, for example, you can set up a three to five-year payment plan to pay back some or all of what you owe to creditors and keep your home from going into foreclosure or your car from being repossessed. Filing bankruptcy can mean wiping the slate clean of some of your debts. Things like credit card debts, personal loans, medical bills, and more can be removed from your obligations. Some debts can’t be discharged, though, such as spousal or child support, recent tax debt, and in some cases, student loans.
When you're struggling with debt, it can feel like you're stuck in a never-ending cycle of payments with no end in sight. You may start to feel like there's no way out and that bankruptcy is your only option. But before you make any decisions, it's important to understand all of your debt relief options.
One of the most common debt relief options is bankruptcy. Bankruptcy can provide you with a fresh start by wiping out your debts and giving you a chance to rebuild your credit. However, there are a few types of bankruptcy, and each has its own requirements. Chapter 7 bankruptcy, for instance, requires you to sell some of your assets in order to pay off your debts. You can have the majority of your debt discharged with this type of bankruptcy. Chapter 13 bankruptcy, on the other hand, allows you to keep your assets and repay your debts over a period of time. If you're struggling with debt, don't despair. There are options available to help you move forward with your life.
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Bankruptcy is a legal proceeding that helps debtors get a fresh start by discharging their debts. The bankruptcy process begins with the debtor filing a petition with the bankruptcy court. The petition includes information about the debtor's assets, liabilities, and income. Once the petition is filed, the court appoints a trustee to oversee the case. The trustee's job is to collect and sell the debtor's non-exempt assets and use the proceeds to pay the creditors.
Creditors also have an opportunity to file claims against the debtor. These claims are then either discharged or reorganized by the court. After all claims have been resolved, the debtor is discharged from their debts and can begin rebuilding their financial life. The bankruptcy process can be complex and time-consuming. It's important to seek the advice of a qualified bankruptcy attorney from our law firm before filing for bankruptcy.
Hinkle Law, PLLC has multiple years of experience in handling all things bankruptcy and family law. They have a vast skill set that allows them to assist you in many areas through many years of helping clients just like you. They have a strong passion and drive to become your advocate, allow you to understand the laws that surround your particular issue, and help you to move forward with confidence to the next chapter of your life.
Three offices in West Virginia are ready to assist you. The Martinsburg offices are located at 230 W. King Street, Martinsburg, WV 25401. We are located less than a half-mile from Martin Luther King Jr Park and just a three-minute walk to Martinsburg-Berkeley Public Libraries. Dulles International Airport (IAD) is just over 52 miles away. Our Hagerstown offices are located at 152 W. Washington Street, Hagerstown, MD. Our offices are located just a two-minute walk from the Washington County Circuit Court and less than a mile from Wheaton Park in Hagerstown. Dulles International Airport (IAD) is just over 62 miles from our office. The Charleston, WV office is located at 232 Capitol Street, Suite 208, Charleston, WV. Our offices are less than a half-mile from Haddad Riverfront Park and a three-minute walk from Henry Gassaway Davis Park. West Virginia International Yeager Airport (CRW) is just 3.5 miles away from our office.
At Hinkle Law PLLC, we are committed to helping people get a fresh start. No matter your financial circumstances, there is always a path out of debt. Let us help you find the best way forward.
To set up a free, no-obligation review of your case, please contact our legal team at (304) 592-4609. With a law office in Martinsburg, we represent clients in West Virginia, Maryland, and Pennsylvania.