When Is The Best Time To File For Chapter 11 Bankruptcy?
There is no time to wait to file for Chapter 11. Many people feel embarrassed when having to file for bankruptcy, so they put it off with the hopes that they can turn things around. However, this often leads to even greater problems, including more losses as a company, as time progresses. In order to avoid this from happening, you need to contact a company to help you with your Chapter 11 case as quickly as possible.
With Jenkins Law Firm, we will work to get you a Plan Of Reorganization through a Chapter 11 filing. This plan will help to inform creditors of how they will be paid, which will then help you with progressing into Chapter 11.
If you need help with determining what type of bankruptcy filing you should make, give Jenkins Law Firm a call for a free consultation today. You can reach our office at (602)283-9868, and we will immediately get to work trying to help you as best as we can.
Chapter 13 – Individual Reorganization
Having financial struggles as an individual can be a horrendous experience. Here at Jenkins Law Firm, we want to help you get back on that path of financial stability. If you are contemplating filing for bankruptcy, call us today at (602)283-9868 for a free consult. We will talk more about the struggles you are facing, as well as the best course of action that you may want to take.
If you own a home, Chapter 13 bankruptcy may alleviate some of the burdens that you have due to your mortgage or automobile. With chapter 13, creditors will create a repayment plan for you that will be paid off over a predetermined amount of time. This choice is a very viable option as it will allow homeowners to keep their property, which would otherwise be liquidated in chapter 7.
What Is Chapter 13 Bankruptcy?
As an individual, one of the most likely scenarios that you may want to consider is filing for Chapter 13 bankruptcy. With Chapter 13, you can reorganize some of your personal assets and debts. In doing so, you can hope to have a bit more time to feel better about getting your life back in order.
People who may want to consider filing for Chapter 13 bankruptcy include:
- Those who continue to have regular income that will allow them to stick to a repayment plan.
- Those who want to reorganize their debts.
- Those who want to avoid liquidating their personal assets.
- Those who meet certain eligibility requirements set up for filing for Chapter 13.
One of the most common scenarios that we see at Jenkins Law Firm includes people who are having a hard time paying the mortgage for their home. However, with Chapter 13, creditors will create a repayment plan for you that will be paid off over a certain amount of time. This choice is a considerable option as it will allow homeowners to keep their property, which would otherwise be liquidated in other forms of bankruptcy filling.
When Should I File For Chapter 13 Bankruptcy?
It’s important to keep in mind that your personal assets could be at risk if you don’t quickly determine a course of action for your bankruptcy filing. Therefore, we highly recommend that you give us a call at (602)283-9868 as quickly as possible. In addition, we may also recommend that you get a counseling session with an approved agency, which can help us determine what your options may be.
In most cases, a repayment plan that has been constructed from Chapter 13 bankruptcy can take anywhere from three to five years to repay, so it’s best if you get going on that repayment plan sooner rather than later.
As a team that was built on strong Christian beliefs, Jenkins Law Firm aims to protect its clients in the best way possible. We want to help you avoid the financial burdens that come with filing for bankruptcy, and we’ll go the extra mile to help you in these matters. If you need help with determining what type of bankruptcy you should file for, give us a call today at (602)283-9868. We look forward to speaking with you and helping you get back on the path to financial reorganization.