Bankruptcy Lawyer Farmington NM
Bankruptcy Lawyer Farmington NM – We are a debt relief agency. We help people file for bankruptcy under the bankruptcy code.
If you need a fresh start from major debt, bankruptcy might be the answer. A chapter 7 bankruptcy allows you erase debts that plague you financially or haunt your credit.
There are numerous qualifications to file for bankruptcy and to have your debts discharged successfully. Your income, assets, debts and expenses will be thoroughly analyzed to confirm your qualification, exempt your assets, and remove your debts.
Filing a Chapter 7 without a lawyer puts your assets at risk, unless you thoroughly understand the exemption schedules and how to use them.
A legal strategy is essential to protect things like your car. Though strategically using your credit prior to bankruptcy is prohibited, the bankruptcy code does not prohibit strategically planning protection of your assets.
There are several chapters of the bankruptcy code that may be available, and best fit your situation will be analyzed. Though Chapter 7 is a “nuclear option” where you hit the reset button, there are other options that involve partial repayment of debt and do not involve your assets.
And, if you are struggling with only one or two debts, we might be able to help you resolve them without a bankruptcy filing. If you are considering bankruptcy, direct negotiations with creditors may prove fruitful. In this approach, you must be careful of “cancellation of debt income,” a tax the IRS may impose for lowering or erasing your debts. We can advise you on this as well.
Resolving debt is not always simple, but yields great benefits and peace of mind if you put in the effort.
We can investigate and analyze your debt situation and help you deal with it.