Deciding to eliminate your debt can be a stressful and life-changing event. At the same time, you know that finally facing your financial problems puts you on the path to financial freedom. Instead of waiting for financial problems to worsen, contact an Albuquerque bankruptcy attorney from Melwani Law to solve your debt problems and rebuild your financial future.
Why File Bankruptcy?
Through the bankruptcy process, you can discharge your debts right away or create a repayment plan to eliminate you debt over a period of years. The two types of personal bankruptcy are:
- Chapter 7 Bankruptcy law allows those who qualify to eliminate unsecured debt while keeping important assets like their home and car. In most cases, individuals keep all their assets and eliminate all their debts. Under Chapter 7 bankruptcy law, you must complete a means test to determine if you qualify.
- Filing for Chapter 13 Bankruptcy is for those who have regular income to pay off their debt over a period of three to five years. When filing for Chapter 13 bankruptcy, you’ll present a repayment plan to your creditors and begin paying off your debt after the plan is approved by a judge.
For more information about Chapter 13 and Chapter 7 bankruptcy law in Albuquerque, New Mexico, contact Melwani Law at 505-323-5800.
Filing for Chapter 13 bankruptcy or Chapter 7 bankruptcy immediately puts a stop to creditor phone calls and actions against you. If your home is in foreclosure, the process will stop. Your car won’t be repossessed and wage garnishments, lawsuits and other collection attempts will also cease.
Real Debt Solutions in New Mexico
Not everyone who contacts our bankruptcy attorneys need to file for bankruptcy. For example, some may find relief from credit card debt through our debt consolidation services. Our attorneys create unique debt solutions tailored to your exact needs, never offering a “one-size-fits-all” approach to our clients.
Begin your new path to financial freedom today. Contact our bankruptcy law firm to schedule a free consultation to discuss your situation. Our lawyers will help you find a debt solution that’s right for you.
