BANKRUPTCY

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Seek a Fresh Start with a Bankruptcy Filing

If you are drowning in debt, avoiding your phone and your mail, and fearing bill collectors lurk around every corner, Bankruptcy may be a solution for you. Our experienced Bankruptcy attorneys can help you develop a reorganization plan to get your finances back on track.

Generally, there are two main types of Bankruptcy applicable to individuals, Chapter 7 and Chapter 13. Which one will work the best for you depends on your overall financial situation and the type of debt you have.

BANKRUPTCY LAW IS COMPLICATED. DON’T GO THROUGH IT ALONE. CONTACT CADDELL REYNOLDS LAW FIRM TO SCHEDULE A FREE CONSULTATION.

Types of Bankruptcy

Bankruptcy laws are complicated. To make matters worse, a great deal of speculation, rumor, and misinformation surround the process of filing a Bankruptcy claim, including the long-held misconception that it is a sign of financial failure and that those who file will be financially ruined forever.

A Bankruptcy filing can take many forms, including:

• Chapter 7: This type of Bankruptcy will relieve filers of most of their debts with a few exceptions—including taxes, some student loans, and domestic support obligations such as alimony or child support.
• Chapter 11: This type of Bankruptcy is a way for viable businesses to secure additional time to meet their debt obligations and to reorganize debts and contracts under the supervision of the Bankruptcy Court.
• Chapter 12: This type of Bankruptcy is designed for family farmers and family fishermen with a seasonal income structure. It may also include individuals who cut timber in their ordinary course of business.
• Chapter 13: This type of Bankruptcy is for those with enough income to continue making payments who have fallen behind. It provides a chance to reorganize debts over time and may even see debts discharged.

Caddell Reynolds Law Firm helps potential filers better understand their options and offers advice to help those who have already filed get back on track more quickly, including:

• Controlling your spending wisely: If you do not carefully control your personal and household spending, you could end up right where you started.
• Opening a low-limit credit card: Even in the middle of a Bankruptcy, it can be easier than you might think to obtain a low-limit, secured credit card.
• Making credit payments on time: Making timely payments is vital to rebuilding a credit history, while missing payments will dig the hole deeper.

Fort Smith Legal Resources:

• Arkansas Bar Association – The ArkBar represents its members’ interests, provides money-saving services, promotes the profession, and alerts members to the issues created by proposed legislation that affect their law practice.
• Fort Smith Police Department – The Fort Smith Police Department is dedicated to the protect and serve moral to the citizens of Fort Smith.
• Sebastian County Clerk – The Sebastian County Clerk is the official bookkeeper for the county. In addition to the roles of bookkeeper, the county clerk also include secretarial duties, voter registration, and issue or marriage licenses and recorder of mortgage deeds.

Our Fort Smith Bankruptcy Lawyers Can Help

If you are considering Bankruptcy proceedings, call Caddell Reynolds Law Firm for help at 800-671-4100. When you call, you’ll speak with one of our top attorneys absolutely FREE.

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