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Bankruptcy

Providence Bankruptcy Attorney

In these difficult economic times people from all walks of life are finding themselves confronted with overwhelming debt from which they need a fresh start. At Pelletier & Clark, we help people find the relief from debt they need while preserving the assets they have worked so hard for. In addition we offer advice and advocacy for gay and lesbian couples regarding the challenges they face when contemplating bankruptcy such as preserving joint property.

Our Providence Bankruptcy lawyers at Pelletier & Clark, Attorneys at Law, understand your needs and we represent clients just like you who are overwhelmed with debt throughout Rhode Island and Massachusetts.

Use Our Knowledge to Protect Your Assets, Get Out of Debt & Get a Fresh Start

Our clients appreciate the strategic legal advice and compassion that founding lawyers Sara H. Clark and Brad R. Pelletier are able to provide them when it comes to their personal bankruptcy issues. We've successfully represented clients in matters involving:

Personal Bankruptcy Services:

Chapter 7 Bankruptcy

A Chapter 7 is the type of Bankruptcy familiar to most people. In a Chapter 7 you will receive a discharge of unsecured debts like credit cards, judgments, and medical bills. Some debts cannot be discharged like child support, student loans and most taxes. There are also several other exceptions to receiving a discharge and the discharge does not eliminate a lien on your property. In other words, you need to continue paying your mortgage if you want to keep your home or your car. You are entitled to keep certain property and in most Chapter 7 cases debtors keep everything that they own. Exemption laws protect your basic assets such as your house, furniture, car, clothing, household items, retirement accounts and several other assets.

Every State has its own set of exemptions and there is also a Federal set of exemptions. Determining what set of exemptions you will use in your Bankruptcy is very complicated and should be discussed with a lawyer.

Chapter 13 Bankruptcy

A Chapter differs from a 7 in that a Chapter 13 requires you to pay back all or just a portion of your debts. In a Chapter 13 mortgage arrearages, credit card debts, medical bills and other unpaid debts are consolidated and a debtor repays a portion or all of the debt in affordable monthly payments over a 3 to 5 year period. Depending on your income, expenses, family size and assets, you may only be required to pay back a small portion of the debts you owe to unsecured creditors. Determining what amount you will have to pay creditors through your plan is very complicated and should be discussed with a lawyer.

Generally, in Chapter 13 bankruptcy, individuals keep all of their assets even if they are non-exempt and none of your property will be sold as long as you complete all of the payments of a properly constructed plan. At the end of the repayment period, any remaining debt is discharged and creditors will then be barred from attempting to collect the remainder of the debt from you. There are of course certain debts that are not dischargeable however just like in a Chapter 7. Further, if you want to keep your home you will have to continue making mortgage payments. Not everyone is permitted to file a Chapter 7 and determining whether or not you eligible is usually quite complicated. Further, it simply might not be in your best interest to file a Chapter 13 even if you are eligible.

Which Chapter to Choose?

If your income is over a certain amount or you have disposable income you will not be permitted to file a Chapter 7 and would be required to file a Chapter 13. Your eligibility to file a Chapter 7 or 13 is determined by several factors including but not limited to the type and amount of debt; your income and expenses, your household size and where you live and assets. Although you have the option of filing a Chapter 7 it may be in your best interest to file a Chapter 13. Some reasons include having substantial non-dischargeable debt from taxes or student loans or if you need more time to pay back a mortgage arrearage to avoid foreclosure or to protect assets that may be lost in a Chapter 7.

Bankruptcy & LGBT Clients

Many of our clients are in loving committed relationships that share all of the characteristics of marriage but are not legally recognized therefore filing a joint petition is not available to many people that need relief from their joint debts. At Pelletier & Clark we work with Lesbian and Gay couples struggling with debt to help them obtain the relief they deserve.

The decision to file or not to file for bankruptcy is a difficult one that should not be entered into lightly. You should seek the advice of a qualified attorney that can help you make the decision that is right for you.

Our firm can help navigate you through the complex waters of filing for personal bankruptcy.

Contact Our Rhode Island Bankruptcy Lawyers Today

We invite you to contact Pelletier & Clark, Attorneys at Law, today at 401-727-4100 to schedule a free, in-person consultation regarding your legal matters. Our law office hours are Monday through Friday from 8 a.m. to 5 p.m. We accept Visa and MasterCard.

Contact

Pelletier & Clark, Attorneys at Law
36 Vermont Avenue, Suite #4
Warwick, RI 02888
Phone: 401-727-4100
Fax: 401-831-2203
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