If you’re struggling with debt in Albuquerque, New Mexico, bankruptcy may be an opportunity to achieve a fresh financial start. At Melwani Law, our bankruptcy attorneys understand that bankruptcy is a difficult decision. We are committed to ensuring that you understand every step of the process and help you rebuild your credit along the way.
Many people struggle to file for personal bankruptcy because they think it will destroy their credit forever. Nothing is further from the truth. Instead, bankruptcy resolves your debts so you can begin the process of rebuilding your credit and starting a new financial future.
Filing for Personal Bankruptcy in Albuquerque, NM
Under New Mexico bankruptcy law, you have the opportunity to file for two types of personal bankruptcy: Chapter 7 bankruptcy and Chapter 13 bankruptcy. You’ll take a means test to determine if you qualify for Chapter 7, which is a liquidation of your assets and discharge of your debt.
To learn more about your bankruptcy options in Albuquerque, contact the bankruptcy lawyers at Melwani Law by calling 505-323-5800 today.
Chapter 13 is an attractive option for those who have steady income to repay their debt. Chapter 13 is a reorganization of your debt. Creditors are a part of the process, as our Albuquerque bankruptcy attorneys aim to consolidate your debt into smaller payments. You’ll pay off your debt in about three to five years under Chapter 13 bankruptcy.
Stop Feeling Guilty—Contact Us!
Many people feel guilty for filing bankruptcy, but our bankruptcy lawyers understand that bankruptcy is a new beginning, a tool to put you on the path to financial freedom. Immediately after you file for personal bankruptcy, harassing phone calls from creditors stop. You’ll retain important assets like your car and house, putting an stop to repossession actions and the foreclosure process.
Once the bankruptcy process is complete, our bankruptcy lawyers will help you rebuild your credit through our credit counseling services. Contact us to schedule a free consultation at our Albuquerque bankruptcy law firm.