With the laws often changing, knowing what choice is right for you can be a difficult one. Each case is different. Knowing what bankruptcy can and cannot do for you is important. Please read “Bankruptcy will give you a fresh start,” to better understand the differences between each type of bankruptcy and view a list of additional online resources from our firm.
Life events can often create problems with your finances. The top three reasons people have to seek protection from creditors in a bankruptcy are divorce, loss of job and medical bills. Bankruptcy can help give you a fresh financial start using a powerful set of laws to stop creditors.
Since 1992, Attorney Gregg Wagman has provided successful resolutions to people burdened with financial difficulties.
The Law Offices of Gregg W. Wagman provide his clients with a legal framework and options to make informed decisions on whether bankruptcy is the right path for them. Specializing in consumer financial problems, he has extensive experience representing consumers in Chapter 7 and Chapter 13 bankruptcy proceedings. Attorney Wagman has been able to help with:
A Chapter Seven bankruptcy allows you to get a fresh financial start. It can zero most unsecured debt (credit cards, medical bills etc.) some tax debt and in some cases improve your credit score. Most people keep their cars and houses through the bankruptcy process.
A Chapter Thirteen bankruptcy is a re-organization of your debt allowing you to pay a portion of debt over a period of time. This is especially effective if you are behind on your mortgage or car payments and just need time to catch up.
The term "workout" is used to describe a more formal, mutually-negotiated modification of debt that does not involve a bankruptcy filing. Simply stated, a workout is an agreement worked out between the debtor and his or her creditors for payment of the debts between them. The agreement is negotiated without all the bells and whistles (and perhaps the stigma) of the bankruptcy process.
Your business is in trouble: how do you determine if bankruptcy is necessary or helpful for your situation.