Shelton Bankruptcy Lawyer

No one is immune to financial problems, and an injury, illness, job loss, court judgment, or divorce can cause an individual to get buried in debt. If you are struggling to pay your bills or are dealing with creditorssuch as credit cards, hospital bills, SBA loan, car repossessions, student loans, or other forms of debt, a Shelton bankruptcy lawyer can assist you in the process of finding relief.

If you find yourself in insurmountable debt that you are no longer able to handle, or if you are stuck in a cycle of making minimum payments every month but not bringing the principal down, the team at Ambrogio, Pletter & Associates, LLC can help.

For nearly 40 years, our firmhas strived to assist clients in getting out of their financial difficulties. Attorney Tim Pletter has been helping Shelton residents get out of debt since 1995. We understand how stressful and burdensomeliving in debt can be and weoffer professional assistance. When you choose to work with our team, you can rest assured knowing we will do everything in our power to ensure that you are in good hands during your bankruptcy proceedings.

Bankruptcy Basics in Shelton, Connecticut

In Connecticut, bankruptcy is a legal tool that allows you to get a fresh start if you are unable to pay certain debts.Individuals with consumer debt can choose to file bankruptcy but so can business owners that owe business loans, lines of credit, SBA or EIDL loans, and high interest Merchant Advance loans (MCA).Filing bankruptcy allows these parties to discharge. In some cases, individuals and business can choose to reorganize and pay their debts in a repayment plan. It is important to note that all bankruptcy cases are handled in U.S. federal court.

There are several forms of bankruptcy that may be available to you, depending on the nature of your financial situation and the forms of debt with which you are currently dealing. At Ambrogio, Pletter & Associates, LLC, we can advise you which type of Bankruptcy is appropriate for you. The most common types of bankruptcy include:

Chapter 7 bankruptcy.Most clients that are in debt choose Chapter 7 bankruptcy so that they can receive a discharge of their debt. This type of bankruptcy is appropriate for homeowners and small business owners, and people who are unable to pay their debts. Our team will tell you if a Chapter 7 bankruptcy is appropriate. Most clients who file Chapter 7 bankruptcies continue to pay their mortgages and keep their homes. Attorney Tim Pletter will review all of the details with you. I will make sure that you will not lose your home or your car. If you choose to file, Chapter 7 bankruptcy. Our team will review your assets and the available exemptions and explain any risks before your case is filed.

• If you qualify for Chapter 7 bankruptcy, the court will eliminate or “discharge” credit card debt, medical debt, payday loans, consolidation loans, and other forms of unsecured debt. We will review your debts and tell you exactly what can be discharged.
• Chapter 13 bankruptcy. This form of bankruptcy allows individuals to reorganize their debts and repay a portion of this debt for a certain amount of time. To qualify for relief under Chapter 13 bankruptcy, will prepare and file a repayment plan with the bankruptcy court.

  The most common reason to file Chapter 13, is to stop a foreclosure on your home. Through a Chapter 13 plan, you may pay the mortgage arrearage back over a period of up to five years. If your mortgage company will not modify your mortgage, or if you are in danger of losing your home to foreclosure, Chapter 13 bankruptcy might be a solution to save your home.

• Chapter 11 bankruptcy. Individuals and business organizations can seek assistance under Chapter 11 bankruptcy in order to reorganize their debt. This form of bankruptcy works in many of the same ways as Chapter 13. However, it is intended forbusinesses with larger debts and significant revenue.

Will Your Home Be Affected by Bankruptcy?

If you are considering bankruptcy to deal with overwhelming debt, you may be concerned about losing your home. When you file a Chapter 7 bankruptcy, you are allowed to continue to pay your mortgage and keep your home. The team at Ambrogio, Pletter and Associates will review your home value and the equity in your home and tell you whether your home equity can be protected using the Connecticut Homestead Exemption. In most cases, you will not lose your home as a result of filing bankruptcy. If you are already struggling to pay your mortgage, or if you are in foreclosure, a Chapter 13 bankruptcy might allow you to save your home by stopping the foreclosure and allowing you to reinstate your mortgage over time.

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Speak With a Professional Shelton Bankruptcy Lawyer Today

If you are unable to make minimum payments on a number of debts or loans or are dealing with medical debts, tax debts, or credit card debts and are unable to stay on top of these, the team at Ambrogio, Pletter & Associates, LLC is here to help. Contact us today to schedule a consultation and learn more about our bankruptcy services.