You can trust Walter Benenati with your needs for handling any kind of significant bankruptcy issues that you might hold. But you should be aware of what Chapter 7 and 13 bankruptcies are about. Benenati can assist you with either of these bankruptcy declarations. Such declarations are different based on what they entail, so be sure you have a clear plan on hand for how you are going to get the debts you have covered soon.
Chapter 7
To start with, you have to look at what a Chapter 7 bankruptcy involves. This is a basic liquidation bankruptcy. This is for individuals and companies alike.
You would have to complete the appropriate means test to qualify for this declaration. Walter Benenati is available to help you with this process.
Your nonexempt property will be sold to the creditors as needed as a means of paying off your debts. This is designed for some of the more intense situations you are in where it might be next to impossible for you to pay off your debts at a time. Also, it would take around three to five months for you to get this bankruptcy discharged.
The Chapter 7 process is designed as a last option for many debts that you might have. The issues that come about from this could be rather difficult to manage, but it is important to see what you can get out of this process.
Chapter 13
The other option that Walter Benenati is available to help you with is a Chapter 13 process. The Chapter 13 bankruptcy plan is a reorganization effort for your debts. This is only available to individuals.
You must have less than $380,000 in unsecured debt or less than $1.15 million in secured debt to qualify for this. But the key here is that the debts you have are fully reorganized into a plan that allows you to pay off your debts in a reasonable fashion. You would have to make monthly payments to a trustee in your plan at this juncture.
You will be able to keep your property, but you must pay an amount of money that is equal to all the nonexempt assets that you might have. These debts must be covered accordingly to ensure there are no problems with what you are trying to maintain or handle at a time.
You would have to get your debts paid off in about three to five years depending on how the Chapter 13 layout is managed. In this situation, you will have to spend enough money on your monthly trustee payments to keep this organized well. You will have the bankruptcy discharged from your name after everything is covered in a few years.
You can trust Walter Benenati with your help for getting any of the debts you have covered as soon as possible. Talk with Walter today to see what you can do and how it will be easy for you to cover the problems that come with your debts.
