Navigator Law is here to guide you through the complex bankruptcy process with clarity, compassion and care.
Bankruptcy
You do not have to face this alone.
Financial relief is possible- and it may be simpler than you think. Whether you’re facing credit card debt, medical bills, or personal loans, we’ll review your situation, identify your best options, and guide you each step of the way.
At Navigator Law, every case is handled with care, strategy, and discretion to help you regain control of your finances and restore your peace of mind.
FAQs
What is Bankruptcy?
Bankruptcy is a process by which consumers can eliminate or repay some, or all, of their debts under the protection of the federal bankruptcy court.
Generally, bankruptcy takes one of two forms - liquidation or reorganization.
In the short term, bankruptcy prevents continued efforts by creditors to collect debts.
In the long term, bankruptcy can eliminate repayment obligations or provide for a restructuring of the debtor's obligations, thus enabling the debtor to obtain a fresh start.
Chapter 7 Bankruptcy
A Chapter 7 bankruptcy is a relatively fast process that can eliminate much of your unsecured debt- including medical bills and credit card debt.
Chapter 7 bankruptcy involves the liquidation of assets that are not exempt under the law, to pay back creditors.
If your assets are limited to those exempt under the Bankruptcy Code applicable to your case, this is called a “No-Asset” case.
In No-Asset cases, if you are within the income guidelines, it may make sense to file a Chapter 7 Bankruptcy to discharge (clear) your debts and financially reset your life.
However, Chapter 7 is not for everyone. It is important to engage a bankruptcy attorney to evaluate your case and discuss your eligibility, any assets that may be at risk of being sold if you file a Chapter 7 bankruptcy and a strategy to pursue your desired outcome.
Bankruptcy Discharge
A bankruptcy discharge releases a debtor from personal liability for certain types of debts. Where a debt has been discharged, the debtor is no longer legally required to pay the debt and creditors are prohibited from taking any collection action.
Although a debtor does not have to pay back debts discharged in bankruptcy, a valid secured lien typically "survives" the bankruptcy case. Secured liens are common with vehicles and real property. As a result, if a debtor falls behind on payments of secured debt, a secured creditor may repossess or recover the property (collateral) secured by the lien.
Meeting of Creditors
The Meeting of Creditors is often the only “official” appearance that most clients will have during their bankruptcy case. As a result, this is the event that usually causes the most anxiety.
Meetings of Creditors are typically over a virtual meeting platform. Attendees include the Trustee and occasionally, creditors. Many creditors choose not to spend money on an attorney to represent them at a Meeting of Creditors.
At Navigator Law we send you the date of your Meeting of Creditors as soon as it set with the Court- typically within 72 hours of filing your Bankruptcy Petition.
At this time, we provide you with detailed information on what to expect and how you can prepare for the Meeting of Creditors.
Additionally, the attorney who will handle your case from start to finish will meet with you the week prior to your Meeting of Creditors to review the process and answer any questions.
Ready to begin?
Schedule a consultation and take the first step towards peace of mind.