Bankruptcy & Debt Relief

Bankruptcy/DebtorMrs. Schwent, bankruptcy attorney has been assisting clients in finding bankruptcy debt relief for more than 39 years. Mrs. Schwent’s firm files bankruptcy on behalf of her clients when they qualify for debt relief under the bankruptcy laws.

Chapter 7 Bankruptcy is the most frequently filed type of bankruptcy. In many respects a Chapter 7 Bankruptcy will give clients a fresh start and will discharge or wipe out most unsecured debt. Some examples of unsecured debt are credit cards, payday or signature loans, medical bills, and utility bills. There are some debts that may not be discharged by filing bankruptcy, such as certain income taxes, child support, debts incurred through fraud, and debts resulting from driving a motor vehicle while intoxicated.

Also if you have secured debt, such as home mortgages or auto loans which gives a creditor a lien on your real estate or personal property, then you will need to reaffirm that debt or agree that that debt will be unaffected by the bankruptcy to keep that property.

To qualify for Chapter 7 Bankruptcy you will have to undergo a Means Test which will determine how much money was made in the last 6 months and a Budget Analysis which determines your income and expenses going forward; and an Asset Analysis with looks at how much property you own.

Also, if for some reason you do not qualify for a Chapter 7 Bankruptcy. When you file for Chapter 13 Bankruptcy it begins a process to reorganize your debts. In a Chapter 13 Bankruptcy the Court makes an analysis of what you can afford to pay, and may modify some of your loans or debts, determining what you need to live off of, and setting payments you can afford. At times the interest rates on your debts may be reduced by the Chapter 13 Bankruptcy.

If you believe that filing bankruptcy might be the best solution for you given your current circumstances, the Schwent Law Office can assess your situation and help you through the bankruptcy process. A review of your personal financial situation will be done to determine if bankruptcy is the best course of action for you.

In some instances Mrs. Schwent has been able to obtain debt relief for her clients without them going through bankruptcy by entering into debt relief negotiation with her client’s creditors. In these sorts of situations, Mrs. Schwent will attempt to reduce her client’s debts by negotiation, and draft binding consent agreements between the creditor and her client. This type of debt relief is not always available and at times is not appropriate for the client’s situation.

If you have serious debt problems and creditors are calling you non-stop, you owe it to yourself to see what sort of debt relief is available to you. If you want to stop the bill collectors, please call (636) 937-4994 to discuss your debt situation.

“We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”