What Is This Going To Cost?
Are you worried that you would have to give up property or pay back creditors? Bankruptcy is complex and case-specific, so you must be careful about taking bankruptcy advice from family, friends or Facebook.
A Lawyer Can Answer Your Questions
“Will I pay anything or lose property?” Every situation is unique, but I can tell you that the vast majority of my clients are able to keep their property. I am Paul Petrillo, an experienced bankruptcy lawyer in New Hampshire. I have helped countless clients in Rockingham County and Hillsborough County, including those in Nashua and Manchester, find relief from debt and haven from creditor harassment.
There is much myth and misinformation about bankruptcy. In our first meeting, I will take the time to educate you about the process, followed by a discussion of your debts, your assets, your income and your expenses. From there we can determine if bankruptcy is right for you and address which debts you can discharge and which assets you can keep.
Do I Have To Give Up Property To File Bankruptcy?
Under Chapter 7 bankruptcy, the trustee can liquidate your assets to pay your creditors. This is the trade-off for wiping out thousands of dollars in debts. However, most property is protected under the bankruptcy exemptions. In general, you will not forfeit retirement savings, your home, your primary vehicle(s) or your personal possessions.
It may not be possible to protect savings accounts and investments, a second home or rental property, expensive jewelry, recreational vehicles, giant TVs and other luxuries. You would have to file for Chapter 13 bankruptcy or negotiate with the trustee to “buy back” any nonexempt property.
Do I Have To Pay Back Creditors Or Pay For Bankruptcy?
In Chapter 7, the filing fees and attorney fees are paid upfront, but that is the only cost. Your qualifying debts are erased, and creditors cannot come after you for those debts once discharged.
In Chapter 13, the attorney fees can be rolled into the monthly payments you make to the bankruptcy trustee. Most of my Chapter 13 clients pay only a fraction of the total debt they owe. At the end of the plan, the remainder of your debts is forgiven.
See frequently asked questions.
We Offer Help And A Solution
Some firms hand your case off to a paralegal. I personally handle your bankruptcy, and I am always accessible to answer your questions. For a free and confidential consultation with an experienced bankruptcy attorney, call me at 603-635-4149 or contact me online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.