A Connecticut bankruptcy lawyer helps individuals and businesses evaluate whether bankruptcy may provide appropriate debt relief. Depending on the situation, an attorney may explain Chapter 7, Chapter 13, or other bankruptcy options, review assets and exemptions, identify debts that may or may not be dischargeable, address creditor actions, and represent the client throughout the bankruptcy process.
Jeffrey M. Sklarz is a business law attorney with Green & Sklarz LLC in New Haven, Connecticut.
Business law attorney with Zeisler & Zeisler, P.C. in Bridgeport, Connecticut, serving business clients on corporate and commercial matters.
People may consider bankruptcy when dealing with:
Consider speaking with a Connecticut bankruptcy lawyer when:
When choosing attorneys, consider the following factors:
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 generally focuses on liquidation and discharge of qualifying debts, while Chapter 13 uses a repayment plan to reorganize qualifying debts over time. Eligibility, income, assets, and financial goals can affect which option is appropriate.
Will I lose my house if I file bankruptcy?
Not necessarily. The answer depends on home equity, mortgage status, applicable exemptions, the bankruptcy chapter, and other circumstances. A bankruptcy lawyer can evaluate how filing may affect your home.
Can bankruptcy stop creditor collection efforts?
Filing bankruptcy generally creates an automatic stay that stops many forms of creditor collection. Exceptions and limitations apply, so the effect should be evaluated based on the individual case.
Can bankruptcy eliminate all of my debts?
No. Bankruptcy can discharge many qualifying debts, but some obligations receive different treatment or may not be dischargeable.
Should I file Chapter 7 or Chapter 13?
The appropriate chapter depends on factors such as income, assets, debts, home equity, secured obligations, and whether you need a repayment plan. A bankruptcy attorney can evaluate the available options.
When should I contact a bankruptcy lawyer?
Consider legal guidance when debts have become unmanageable, creditors are suing, wages are being garnished, foreclosure or repossession is threatened, or you need help deciding which bankruptcy option may fit your financial circumstances.