Finding Relief Through Bankruptcy
Bankruptcy Lawyers Serving Clients in Papillion and Plattsmouth, Nebraska
For individuals and families experiencing difficult financial times, filing consumer bankruptcy can provide a fresh start. Filing bankruptcy may seem like you are admitting defeat or that you are unable to provide for your family. But it is not something to be embarrassed about. Millions of people file for bankruptcy each year. Often times it may be circumstances outside of your control that lead you to be in a tight financial spot: a job loss, an injury or illness with mounting medical bills, a divorce. Bankruptcy is a solution that will allow you to get relief and move on with your life.
If you're not sure that bankruptcy is the solution, or you have decided that it is time to file, schedule a free initial consultation with our lawyers to learn how we can help. Contact us online or by calling 402-253-0823 (toll-free at 888-826-7309).
When you come to JOHNSON & PEKNY, LLC, we will gather all of your financial information and analyze your assets and outstanding debt. We'll then discuss what your goals are, such as if you'd like to keep your house, or vehicles, and what options are available. The two main types of bankruptcy for individuals are Chapter 7 and Chapter 13. Our attorneys will help you determine which is best for you based on your individual circumstances.
Filing Chapter 7 Bankruptcy
Chapter 7 Bankruptcy, or liquidation bankruptcy, is a solution for many of our clients whose income falls under a certain level. Under Chapter 7, all of your unsecured debt — your credit cards, medical bills, etc. — is discharged. Discharged debt means that you no longer have to make those payments and your creditors cannot collect on these items.
Chapter 13 Bankruptcy Protection
Chapter 13 Bankruptcy, also known as the payment plan bankruptcy, works for clients that have a lot of equity in their homes or have income that puts them above a certain level. Under Chapter 13, all of the unsecured debt is brought into a payment plan that is approved by the bankruptcy court and then administered by a trustee. You will make monthly payments to the trustee, who in turns pays your creditors, and at the end of your plan — which is usually 3 to 5 years in length — your remaining unsecured debt will be discharged.
Things To Know About Bankruptcy
The bankruptcy process is complex and involves a lot of paperwork. Once you come to our office, we'll explain the details, but there are a few things that you should know up front:
- Student loans, back taxes and child support payments are not discharged under Chapter 7 or Chapter 13 bankruptcy filings.
- Filing bankruptcy will affect your credit.
- In order to keep your house or vehicles after filing for bankruptcy, you'll have to continue making your mortgage or car loan payments on time.
- You will have to complete online credit counseling classes before filing for bankruptcy and before you receive your discharge.
To schedule a no-cost consultation to discuss your bankruptcy concerns, contact us online or by calling 402-253-0823 (toll-free: 888-826-7309). We offer evening and weekend appointments and are available to meet you in your home, if necessary.