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Danbury Bankruptcy Lawyer Effective & Knowledgeable Advocacy Through a Difficult Time

Knowledgeable Bankruptcy Lawyer in Danbury Serving Fairfield County

Assistance Filing for Chapter 7 & Chapter 13 Personal Bankruptcy

Declaring bankruptcy can be an intimidating and overwhelming experience. One thing to keep in mind is that this is not the end of your financial wellbeing- in fact, this may very well be what saves it. The Terbrusch Law Firm is a debt relief agency that helps people file for bankruptcy belief under the bankruptcy code. This can be a difficult area of law to understand if you do not know the ins and outs, which is why our bankruptcy attorney in Danbury provides clients with close, personal guidance as they go through the process.

Whether your financial difficulties have arisen because of a divorce, crushing medical bills, foreclosure, or other financial distress, relief may be available through bankruptcy. Call us today at (203) 409-8877 to arrange a consultation.

Chapter 7 Personal Bankruptcy

Bankruptcy can clear your debts so that you have an opportunity to rebuild your financial situation. It can be very beneficial, but only in the right circumstances. Chapter 7 is the most common form of bankruptcy, and one of the easiest to understand.

When you declare Chapter 7 bankruptcy, the courts can certain assets you own to a trustee, who will sell them and provide the profits to your debtors. This does not mean you have to forfeit all of your possessions, you are permitted to make several exemptions for important assets such as your home, car, and items that are essential for your job. Once you have filed for bankruptcy, the debtors are no longer allowed to contact you to collect payment.

Chapter 7 is one of the most convenient forms of bankruptcy because it allows you to keep what you need, discharge your debts, and get a fresh start. However, your credit score will take a serious hit and you must be in a difficult financial situation to qualify for this type of bankruptcy. It will take diligence and careful financial planning to recover financially, but it should still be easier than it would have been with the debt hanging over you.

Chapter 13 Bankruptcy

In Chapter 13 Bankruptcy, you do not need to forfeit any of your assets or property. Instead, you and your attorney work out a three to five-yearpayment plan with your creditors. This plan is overseen by the courts to ensure it works with your financial situation and will not be subject to additional interest. If the total amount of your debt is not paid by the end of the plan, most debtors will forgive the remaining amount.

In order to file Chapter 13 Bankruptcy, you must meet the following requirements:

  • You have not had a bankruptcy case dismissed in the last 180 days
  • You have not filed for Chapter 13 bankruptcy in the last 2 years or Chapter 7 bankruptcy in the last 4 years
  • You have enough income to pay off debts in the agreed upon plan
  • You received debt counseling from an approved agency no more than 180 days before filing
  • You have filed your income taxes for at least the last 4 years
  • Your debt is not so high that it could not be reasonably paid off in a 3 to 5-year plan

Make Strategic Debt Planning Decisions with A Knowledgeable Attorney

At The Terbrusch Law Firm, we know bankruptcy law. Our Danbury bankruptcy attorney can guide you through this often complex process and help you understand your financial situation and how declaring bankruptcy will affect it. We’re here to help.

Whether your financial difficulties have arisen because of a divorce, crushing medical bills, foreclosure, or other financial distress, relief may be available through bankruptcy. Call us today at (203) 409-8877 to arrange a consultation.

Why Turn to The Terbrusch Law Firm?

  • We Know the Law

    We possess invaluable insight into the Connecticut legal system's practices and procedures.

  • We Know the Courts

    Our clients use our powerful experience inside and outside of the legal system to their advantage.

  • We Know the Judges

    We have knowledge of how individual judges view cases, witnesses, and legal issues.

  • We Know What It Takes

    Our approach to law is reflected in our way of serving our clients: with skill, determination, and concern.

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