Bankruptcy Attorneys in Little Rock, Arkansas
Are you facing financial difficulty? Filing for bankruptcy can help you take control of your financial future and put an end to wage garnishment, foreclosure, and debt collectors.
If you suffered a job loss or lost wages, have insurmountable medical bills, are facing foreclosure, or have experienced the loss of household income that often accompanies divorce or death, The Brad Hendricks Law firm can help. Our bankruptcy attorneys have handled a wide variety of cases across the state of Arkansas and are committed to obtaining the best results for clients. Contact The Brad Hendricks Law Firm today to schedule a consultation.
Our Little Rock Bankruptcy Attorneys Are Here to Help
The Brad Hendricks Law Firm is available to help you answer questions about your financial difficulties, outline alternatives, and implement a plan that works best for you and your family. Whether you need a fresh start in your financial affairs, have lost your job or undergone an income reduction, or are stuck paying high-interest credit cards that make it impossible to get ahead, our experienced attorneys are prepared and ready to help with your case.
Perhaps you have creditors calling you at all hours, leaving you feeling hopeless about your financial affairs. Regardless of your circumstances, whether you do not own property but have credit card debt, or whether you have complicated debt that includes property and other assets, our bankruptcy lawyer, Caroline Lewis, and her team of experienced bankruptcy paralegals are ready to help.
When you need protection for your home, automobile, or other property, regardless of your location in the State of Arkansas, and you are trying to choose from the many Arkansas bankruptcy attorneys, let our firm be your first—and last—call for help.
Types of Bankruptcy
If you are having a hard time controlling your debt and are being harassed by creditors, the Brad Hendricks Bankruptcy team can guide you through the bankruptcy process and discuss the options available to your case. In Arkansas, there are two types of bankruptcy — Chapter 7 and Chapter 13. Our experienced attorneys can help you find the right bankruptcy solution for you and your family.
Chapter 7 Bankruptcy
A Chapter 7 bankruptcy case may be thought of as the “short-and-sweet” version of bankruptcy. If you qualify for a Chapter 7 case, you could very well keep all of the property you own or have an interest in, such as your home, car, retirement accounts, and furniture. Your debts would be wiped away, except for those debts you intend to continue paying, such as your mortgage and car note.
Qualifying for Chapter 7 is based on a calculation that looks at your income and your expenses, but it is not based solely on your income. You need an experienced bankruptcy attorney to help you determine whether you qualify and whether Chapter 7 is right for you.
Chapter 13 Bankruptcy
If you are behind on payments for property you want to keep, such as your mortgage or car loan, Chapter 13 may be the best option for you. A Chapter 13 bankruptcy case is referred to as “reorganization” and is very different from a Chapter 7 case.
To qualify for a Chapter 13 bankruptcy case, you must have a regular source of income. From that income, you will be required to make monthly payments to a Chapter 13 trustee. Your Chapter 13 plan that is filed on your behalf sets forth how the trustee should apply those payments toward your debt. The trustee will follow the plan and pay the creditors as indicated.
Under Chapter 13, you are protected from creditors so long as you make all the payments required by your plan. A reorganization case may last up to sixty months to allow you to catch up or pay off your debts. You may be able to get rid of some or all of your unsecured debts, such as credit cards or medical bills. Chapter 13 can stop a pending foreclosure or garnishment of your wages.
Contact an Arkansas Bankruptcy Attorney Today
Each person’s financial situation is unique. If you are facing foreclosure, steep medical bills, or a loss of household income caused by death or divorce, you need an experienced bankruptcy attorney to help you determine the best way to move forward in dealing with your situation.
When you call The Brad Hendricks Law Firm for a free bankruptcy consultation, a member of our bankruptcy team will evaluate your financial status and discuss whether Chapter 7 or Chapter 13 bankruptcy is the right option for you. Our experienced attorneys understand that bankruptcy is a challenging process, and will diligently work to make sure that you understand every element of your case and ensure that your bankruptcy goes as smoothly —with as little disruption to your life— as possible.
Our Little Rock Bankruptcy Attorneys personally review every bankruptcy petition to ensure accuracy and compliance with the United States Bankruptcy Code, which is complex and changes frequently. If necessary, we may be able to file your case the same day as your consultation. Contact The Brad Hendricks Law Firm today to schedule a free consultation.