Finances are one of the leading causes of stress in the United States, and the further one gets into debt, the worse the problem becomes. Once folks have fallen behind on their payments, debt can very quickly become overwhelming and lead to a range of problems. From constant nagging and threats from creditors to even the most extreme measures like wage garnishment or legal action, debt can begin to seem inescapable the further in it one becomes.
Luckily, there are options available to debtors of all kinds that offer the promise of relief from the constant distress and the opportunity for a fresh start with a clean financial slate. Bankruptcy has been a long-relied upon measure provided to those who have found themselves in inescapable levels of debt, with increasingly harsh actions being taken against them that may make it impossible to get back above water. At the same time, bankruptcy is often touted in the media as a disastrous measure only to be taken in the most dire of circumstances. Fortunately, this is not necessarily the reality of the situation.
Chapter 7 Bankruptcy is an option for debtors to have their debt discharged, and the harassment by creditors and debt collectors ceased. It relies on the liquidation of the debtor’s assets to pay down one’s debt, with the remainder being discharged at the end of the ordeal. However, while it may initially seem like a simple solution to the problem, complex and demanding guidelines and procedures require an expert hand in the matter. Therefore, if you are considering Chapter 7 Bankruptcy as a solution to your debt in Gaithersburg, Montgomery County, it is imperative to find a Chapter 7 Bankruptcy attorney to assist in your case.
At Kindlund Legal, LLC, we understand how quickly debt can become overwhelming and how even faster it can become crippling. However, with the right bankruptcy law attorney by your side, you can rest assured that you’ll be on your way to relief in no time. Attorney Jillian Kindlund is ready and waiting to assist you with over 25 years of experience as a bankruptcy law attorney and has helped countless clients find the relief they have sought for so long. Everyone deserves a chance to attain a clean slate and fresh start, and Chapter 7 Bankruptcy can help you reach it.
When seeking bankruptcy through the chapter 7 avenue, individuals will need to complete the means test in order for the court to determine if they are eligible to begin the process. This is one of the most critical points in your potential bankruptcy case, though it has not yet started. This test is a series of equations that will factor in the debtor’s income, current expenses, and various other factors concerning your household and family. Though there are resources available online to assist in giving a preliminary idea of what will be involved, these in no way will prepare you for the reality of the situation.
For the best and most reliable results, finding a Chapter 7 Bankruptcy Attorney in your area to discuss your situation and advise you on how best to proceed will be your best option. In Gaithersburg, Montgomery County, Jillian Kindlund and Kindlund Legal, LLC has the expertise and resources to give you the best shot at attaining your legal and financial goals.
As mentioned before, Chapter 7 Bankruptcy relies on the liquidation of the debtor’s assets to pay down the creditors and other agencies which are owed money. This will be performed by a Chapter 7 Bankruptcy trustee who will be assigned to your case by the court system in Maryland. They will be the designated official on the case and perform various duties throughout the process. Most importantly, however, is the assessment and sale of any possessions that are admissible to liquidate under chapter 7 and additional administrative responsibility.
A common fear people may have when entering into a bankruptcy settlement is losing all of their possessions and having to start completely fresh. While this may be partially true, the state and federal government provides a list of exemptions that protect particular property from liquidation and will allow you to rebuild your life on a solid foundation. Some examples of this are your vehicle and necessities for day-to-day life, but a bankruptcy law attorney will be able to give you the full suite of details.
At Kindlund Legal, LLC, we believe that everyone deserves a second chance to get their lives back under control. The first step is scheduling an initial consultation to begin the process and determine if you may be eligible. During this conversation, we will discuss your current situation, the goals surrounding your possible bankruptcy, and how best to get you there. So don’t wait to reach for your clean financial state. Call now to get started!
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Former Chapter 7 Trustee