If you or your business has accumulated an unsustainable amount of debt, know that you are not alone. While almost half of all bankruptcies result from outstanding medical bills that cannot be paid, they can be necessary for numerous reasons. Whether you have suddenly been hit with a reduction in income, lost employment, have too much credit card debt, or have experienced a severe injury or illness, filing for bankruptcy can be your best option for debt reduction. Anywhere in America, having outstanding debt or poor credit will substantially impact your ability to protect your business. For this reason, it’s always best to utilize the services of an experienced and qualified bankruptcy law attorney.
Chapter 7 Bankruptcy Attorney Jillian Kindlund understands that many clients will be initially confused about who to turn to in the case of having unsustainable debt. Clients often have an abundance of questions or concerns about their debt which Jillian is always pleased to consult them on. Kindlund Legal LLC will be a consistent reference point for knowledge and support throughout the legal process. For your convenience, Attorney Kindlund serves clients located anywhere in the state of Maryland. Whether you reside in Columbia, MD, or surrounding areas, her 27 years of expertise will make all the difference in your bankruptcy case. In addition, our skilled bankruptcy lawyer has served both consumers and small businesses with debt protection.
When it comes to bankruptcy law, there are different procedures for bankruptcy depending on your specific situation and needs. The varying methods for bankruptcy are referred to commonly as chapters. A Chapter 7 Bankruptcy is the most common form of bankruptcy for individuals. However, it is best to consult an attorney to navigate this process safely and efficiently.
Chapter 7 Bankruptcy For Individuals
A Chapter 7 bankruptcy can be stressful yet straightforward if assisted by a lawyer. An individual filing for a chapter 7 bankruptcy is usually in a financial hole and needs to climb out. This can be achieved by reducing as much debt as possible. Our team will assist with minimizing your debt to the fullest extent possible. Much debt can be wiped away with a strong case. However, some creditors may refuse to budge and file lawsuits. In this case, our attorney for bankruptcy will be right by your side. We will also assist with forming a reasonable strategy to reimburse any additional creditors. Liquidation of the debtor’s assets may be necessary if you require funds for repaying remaining creditors.
Chapter 13 Bankruptcy For Small Businesses
A Chapter 13 bankruptcy is the most common form of bankruptcy used for small businesses in financial despair. The Chapter 13 process works almost precisely like a Chapter 7 bankruptcy. Both legal procedures allow for wiping away any qualifying debt, with the chance that some debt will only be reduced and some will not budge. A Chapter 13 bankruptcy will eliminate any remaining debt with a repayment plan over several years. A small business bankruptcy attorney will ensure that you optimize your strategy to protect your financial interests best.
Protect Your Credit After Bankruptcy
Substantial debt reduction is possible with a well-organized bankruptcy plan, but it will likely still be on your credit report for many years. A Chapter 13 bankruptcy will remain on your credit report for up to seven years, and a Chapter 7 can impact you for up to ten. After the designated time frame, the bankruptcy filing will finally fall off your credit report. In most cases, you will not be allowed to remove the bankruptcy before it is automatically wiped away after this long period. Therefore, it is extremely wise to take steps with an attorney to protect your credit. An experienced attorney can advise you on ways to improve your score, represent you in court, settle debt with creditors, communicate on your behalf, and file disputes if necessary.
Consult For Free With Kindlund Legal LLC
Attorney Jillian Kindlund welcomes you to schedule your first consultation today and start crafting a sound strategy for debt relief. The experience of financial insecurity is a tremendous stressor and can even be a source of panic for many new clients. We want you to know that while this period may be full of uncharted territories and brand new information, it does not need to be stressful or scary with the aid of a qualified legal expert on your side. We have a compassionate and client-focused approach to creating concrete and actionable goals. Reach out today to set up your first appointment at no cost.
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Former Chapter 7 Trustee