Do You Qualify For Bankruptcy?
Consider bankruptcy when you can't meet your financial obligations. There are many situations in which you may qualify for bankruptcy, including:
- You've been out of work for an extended period and have no unemployment income or savings
- You owe delinquent taxes
- You are a homeowner nearing foreclosure
- Your debt has led to wage garnishment
- You face pending lawsuits for delinquent bills
At Brende & Meadors LLP, we help individuals in Sioux Falls, South Dakota, determine which kind of bankruptcy is right for their situation.
The most common types of bankruptcy for individuals are Chapter 7 and Chapter 13. Chapter 7 bankruptcy liquidates all your nonexempt assets to pay off creditors. It is the best option when you have a lot of unsecured debt, like medical bills or credit card payments.
Chapter 13 bankruptcy reorganizes your debt using a repayment plan. You should choose this option if you have income, but want to avoid foreclosure on your home or need time to catch up on outstanding debts.
Contact Brende & Meadors For A Free Consultation
Bankruptcy laws help people who can no longer pay their creditors get a fresh start. Bankruptcy laws also help protect troubled businesses and provide for orderly distributions to business creditors. Our lawyers can help you find a solution.
Everyone's financial situation is different, so please seek the help of our firm to determine if bankruptcy is right for you. Schedule a free consultation with an attorney when dealing with serious, long-term personal debt, repossession and other financial issues. Call 605-333-0070 or send us an e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.