The Law Office of Hagan & Associates provides affordable and quality bankruptcy representation. We strive to rise above mediocrity by building our practice upon solid principals of Trust, Experience, and Compassion, underscored by our Golden Rule, “Treat your client as if you were one.” If you are experiencing creditor harassment, or you find yourself facing foreclosure, wage garnishments, mounting medical bills, law suits, repossessions, or other financial troubles, we are here to help you transition smoothly from the burden of financial oppression to the freedom of debt relief and a fresh start. If you have no realistic ability to repay your creditors in the foreseeable future, it is likely a Chapter 7 Bankruptcy will help you eliminate your debt and provide a fresh financial start.
Due to recent economic situations, Debt has become a serious epidemic in the United States. Millions of Americans are burdened with inescapable mountains of debt, with usually no way out. With the increase in consumer debt, creditors are becoming harsher and have started implementing more aggressive tactics against debtors who owe them money. Moreover, with economic factors greatly affecting housing values and the rise of the adjustable rate mortgage, some financial situations seem insurmountable. There are a number of reasons individuals fall into debt, whether it be an illness, sudden job loss, death, divorce, or natural disaster. We recognize that most people are hardworking individuals who would repay their debt in full if they could. Yet, economic factors or life crisis has left many with limited options to resolve these issues. If you are suffering from serious debt and financial hardships, the most important thing to remember is that you have legal options, and that your situation is not hopeless. There are creative answers to many of these situations. Bankruptcy is just one of those options.
Chapter 7 Bankruptcy, also called liquidation, is the most common type of bankruptcy and completely eliminates your dischargeable debt forever. Individuals who are granted Chapter 7 bankruptcy have proven to the court that they have no realistic way to repay their debt over the course of the next three to five years. When Chapter 7 is awarded, the debtor is legally excused from having to repay any unsecured debts, and most debtors are able to keep all properties. Typically it takes a total of three to four months for a Chapter 7 bankruptcy case to be filed and discharged.
Certain types of debts cannot be cleared through Chapter 7 bankruptcy including school loans, child support, alimony, taxes, and personal injury damages.