Bankruptcy
Do you flinch when the phone rings, afraid that it’s another harassing call from a bill collector? Do you dread opening your mailbox, worried that it’s full of bills you can’t afford to pay? If you answered “yes” to either of these questions, rest assured you’re in good company. If worries about money – or the lack of it – are ruling and ruining your life, bankruptcy may be an option to consider.
Davis Law P.S.C. is a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code. You can represent yourself in a bankruptcy proceeding. However, bankruptcy can be a complex legal undertaking, so many people make the choice to hire knowledgeable, experienced attorneys to help them through the process. At Davis Law, we’ve been helping the people of Central and Eastern Kentucky with their bankruptcies for many years.
Bankruptcy is primarily governed by Federal law. The most common chapters, or types, of bankruptcies are Chapter 7, Chapter 11, Chapter 12, and Chapter 13. Chapter 7 is often called a “liquidation bankruptcy”, and it usually provides the most comprehensive relief for debtors; a Chapter 7 bankruptcy can usually eliminate your credit card debt, medical bills, deficiency balances on repossessed vehicles, and many other types of unsecured debts. Chapter 11 and 12 bankruptcies aren’t an option for most people – those chapters are reserved for small business owners, family farmers, and professional fishermen. A Chapter 13 bankruptcy requires you to pay a percentage of what you owe into the court over a period of three to five years; sometimes, it’s the best option if you are facing a foreclosure action on your home, because it allows you a little extra time to “catch up” your mortgage while still remaining in possession of the property.
At your first meeting with the attorneys of Davis Law, we will discuss with you, in greater detail, each of the above chapters, and help you make the decision as to which option will best suit your needs.
Federal law requires all bankruptcy attorneys to give you a written contract specifying what the attorney will do for you and how much it will cost, and we will always do that for you at Davis Law. In fact, we can usually tell you at your very first appointment – which is completely free of charge – how much your bankruptcy is going to cost, start to finish. The fee we quote you will include, among other things, meeting with you to review your debts and value your assets; preparing your Petition for filing with the Federal Bankruptcy Court; and attending your First Meeting of Creditors. You do not have to pay our entire fee “up front”; in fact, most people do make payments to us over time, and that’s okay. However, we do require that all fees be paid before we file your case with the Court.
Making the decision to call us for that first appointment may be the hardest part of your bankruptcy, but once you are here, we promise that you will never be made to feel embarrassed or humiliated by your decision. We understand that bad things happen to good people, and at Davis Law, we will give you the tools and the knowledge you need to get through this period of financial difficulty with confidence.
