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Boise Bankruptcy Lawyer
Have you been receiving non-stop calls at all hours from harassing creditors or collection agencies demanding that you pay their bill, or threatening that they will sue you if you do not pay.
Perhaps the collection agency has already initiated a lawsuit and you have recently been served with a complaint demanding payment and the collection agency’s attorney fees. We are here to help you stop the calls and end the harassment.
If this sounds familiar, you need to contact bankruptcy attorneys today so that they can walk you through the bankruptcy process and get the attorney client relationship established.
If you file bankruptcy, do not worry that it will ruin your financial future. It won’t
Filing for bankruptcy for a debt reorganization in Boise ID is just what the bankruptcy code is there for, to help you get a fresh start. Do not be intimidated by bankruptcy court. Most of the time, you will not have to appear in court at all or pay creditors during the process. Our bankruptcy law firm is here to help and can provide the legal services from start to finish.
Bankruptcy provides relief from creditors. As soon as you file your case, the “automatic stay” is entered. The automatic stay is an automatic injunction that bars creditors from their attempts at collection. If they attempt to collect on any debt while the automatic stay is in place, they may be subject to fines and penalties.
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Protect Your Assets
The Bankruptcy Code and Idaho Law provides exemptions for your property. Exemptions are allowed for your house, car, income, guns, and household goods.
This allows for a fresh start after filing bankruptcy because you get to keep all your assets, not pay all the debt off and be secure in your future.
If you own a home, and have less than $175,000 in equity, the bankruptcy trustee cannot take the home during the process. You can rest assured that your most valuable asset will be protected. It will also allow you to get some breathing room if you are behind on your payments or even getting your wages garnished if that is what was holding you back from making timely payments.
Getting the Idaho bankruptcy filed will automatically stop the harassing phone calls. We are dedicated to serving clients so they can stop getting those phone calls, have all the anxiety, and move on with their life in a better place. Our bankruptcy attorney does currently offer free consultations, but it is not guaranteed depending on the complexity of the situation.
Types of Bankruptcies
There are two separate bankruptcies that individuals use to get a fresh start.
First, the Chapter 7 Bankruptcy is the most common type of bankruptcy. It is also known as a “liquidation” bankruptcy. This is because in a Chapter 7 Bankruptcy, you disclose all of your assets and liabilities, apply any exemption to assets, and then the trustee may take possession of your nonexempt property, liquidate it, and then repay your creditors with the proceeds from the sale.
A Chapter 7 Bankruptcy discharges, or erases, the most of debt. It will erase a majority of your unsecured debt, including, credit cards, personal loans, and medical bills.
Second, a Chapter 13 Bankruptcy allows individuals to protect their property. The main reason individuals choose a Chapter 13 is that a Chapter 13 allows individuals to protect their homes if they are behind on their house payments by incorporating the behind payments into their repayment plan and stopping to the mortgage company/bank from foreclosing during that time. Individuals also may be forced into a Chapter 13 because they do not qualify for a Chapter 7.
A Chapter 13 is different from a Chapter 7 in several ways. A Chapter 13 is a repayment plan. Over the course of 3-5 years, you must repay your debts, and at the end of the repayment plan period, any remaining unsecured debt is discharged at that time.