Many people facing insurmountable debt feel embarrassment and guilt and prevent themselves from getting help sooner. If you are thinking about declaring bankruptcy in Albuquerque, don’t wait for your financial problems to become worse. Call the bankruptcy attorneys at Melwani Law to resolve your debt.
At Melwani Law, our bankruptcy law firm helps people reduce or eliminate their debt completely. If you feel overwhelmed by debt, you can count on us to provide unique solutions to resolve your debt, including personal bankruptcy, debt consolidation, credit counseling and more.
Chapter 7 Bankruptcy Law
Chapter 7 is a type of personal bankruptcy that allows those who qualify to eliminate most debts. According to Chapter 7 bankruptcy law, you must take a means test to see if you qualify. If you are approved, you’ll file a bankruptcy petition and a judge will grant an automatic stay that prevents creditors from calling you, stops the foreclosure process and allows you to keep your most valuable possessions.
Chapter 13 Bankruptcy Law
If you do not qualify under Chapter 7 bankruptcy law, you may be eligible to file Chapter 13 bankruptcy. Chapter 13 is designed for those who have steady income to pay off debt. You will need to have a repayment plan approved by your creditors and a judge that outlines how you will pay off your debt within three to five years. Debt negotiation with your creditors is often a part of the process.
For help declaring bankruptcy in Albuquerque, New Mexico, contact Melwani Law at 505-323-5800.
Find Your Financial Freedom
What would you do if debt couldn’t hold you back? You can discover the answers by calling our Albuquerque bankruptcy law firm and meeting with a lawyer to determine the right debt solution for you. We understand that declaring bankruptcy is not right for everyone, and those with credit card debt may be better served by credit counseling or debt consolidation.
To learn if bankruptcy is the right action to take, contact us to schedule a free consultation with our Albuquerque bankruptcy lawyers.