Filing for bankruptcy is a tool that can help you when you have fallen on hard times.
There can be a lot of negative stigma attached to the idea of filing for bankruptcy, for businesses and individuals. Some people may see the act as a sign of giving up or admitting failure in their business or personal finances.
That stigma is misplaced. Misfortune can happen to anyone, and when you have fallen on hard times, bankruptcy is a tool that can help you regroup and get back on your feet, and it should be treated as such. Don't be dissuaded by the stigma if filing for bankruptcy is what makes financial sense in your situation. Many people are driven into debt by accidents, medical bills, job loss or other unforeseen business circumstances that can happen to anyone, and often filing for bankruptcy is the fastest way to get back on the road to success.
Filing for bankruptcy can reduce stress and distractions, and allow you to focus on your financial recovery. One important part of any bankruptcy filing is that debt collectors and lenders may no longer contact you, and anyone who has experienced debt knows that those calls and letters cause a lot of unhealthy stress.
However, the bankruptcy process can be extremely complicated. Bankruptcy is governed by a byzantine patchwork of state and federal laws, and it requires an attorney with skill and experience to navigate the system and achieve your best possible outcome.
That's where Steve Notinger comes in. Licensed to practice bankruptcy law in both New Hampshire and Massachusetts, Steve has over 30 years of experience helping people in tough financial situations file for bankruptcy.
Here are the types of bankruptcy filing that Steve can help you out with:
Chapter 7 Bankruptcy is for individuals that are unable to pay their debts. In a Chapter 7 Bankruptcy, personal possessions are sold to pay off the debts, most types of debt are discharged completely, and creditors are prohibited from contacting you.
A Chapter 11 Bankruptcy is also called a reorganization. Individuals can file for Chapter 11, but most often it is used by businesses that cannot pay their debts. During a Chapter 11 Bankruptcy, debts are consolidated into one plan, and the business keeps operating.
The vast majority of bankruptcies are either a Chapter 7 or Chapter 11, but two other types exist--Chapter 12 for some farmers and fishermen, and Chapter 13 for limited amounts of debt. Attorney Steve Notinger can help you choose the best option for your situation.