Bankruptcy Attorney Can Help You Get a Fresh Start

Bankruptcy Attorney
A bankruptcy attorney can help you figure out the best solution for your financial situation. If you are in dire financial straits and can’t see a way out, contact Jeff Gedbaw at the Gedbaw Law Firm, LLC. We serve clients in Lee’s Summit, Overland Park and the Greater Kansas City Metro area.
Financial disaster can strike at any time, even for those who manage their money carefully. A sudden job loss, unexpected emergency medical expenses or a natural disaster can negatively impact your financial resources and result in debts that you are unable to pay. Although consumer bankruptcy filings have been on the decline since 2007, thousands of Americans go through this process every year. A bankruptcy attorney has the experience and knowledge to help you navigate this complicated system.
There are two types of bankruptcy. Under Chapter 7 bankruptcy, you are able to completely discharge debts, meaning that those debts never have to be repaid. Under Chapter 13 bankruptcy, some debts may be repaid over a specified time period at lower payment rates than previously. This article will focus only on Chapter 7 bankruptcy, also referred to as “liquidation bankruptcy.” 
A lot of us have been there. You are enjoying some family time and the phone rings. Your heart sinks with dread and embarrassment. Is it another collector on the phone? Since your financial situation has deteriorated, the walk to the mailbox seems longer than ever. Will there be a huge stack of bills marked “Past Due!” waiting for you? It can be incredibly stressful. Perhaps the biggest advantage of filing Chapter 7 is that it stops the phone calls and piles of unpaid bills. Once you have filed for bankruptcy, all communications with creditors will be handled by your bankruptcy attorney.
Many people believe that filing for bankruptcy means you will lose everything. This is not true. Under Chapter 7 bankruptcy, some of your assets may be protected from loss. Things like your home and car can be secured so that you don’t have to surrender them unless you choose to. An experienced bankruptcy attorney can help you determine what assets can legally be protected. If you have an asset that is secured by a bank loan, such as a mortgage, you would still be required to make those payments in order to retain the property. Likewise, your vehicles can be protected, since they are required for most people to hold a job. However, if you find yourself “upside down” in your car loan (where it is worth far less than you owe on it) you can surrender it and clear the debt if you wish.
If you would like to learn more about your options under bankruptcy, contact the Gedbaw Law Firm, LLC at (816) 379-5329 for a free consultation. Jeff is licensed to practice in both Kansas and Missouri and can also represent you in Federal bankruptcy court if required. Our firm’s philosophy is to offer the best in expert legal counsel in a friendly and compassionate manner. Don’t wait for wage garnishments or other legal action to get help. Call us today!

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