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What Does Filing for Bankruptcy Mean for New London County Residents? A Bankruptcy Attorney Explains February 10, 2016

Groton, New London
What Does Filing for Bankruptcy Mean for New London County Residents? A Bankruptcy Attorney Explains, Groton, Connecticut

Many clients who visit with Mark O. Grater Attorney at Law in Groton, CT, are often interested in learning more about achieving financial freedom after personal and medical debt have made living month to month difficult or nearly impossible. Personal debts that inhibit individuals from paying their basic necessities may require assistance from a bankruptcy attorney.

Following a personal bankruptcy, most individuals will be able to keep a majority of their assets which are vital to everyday life. This includes furniture, cars, and your house, in most situations. With the help of a bankruptcy attorney, you can file for a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, depending on your qualifications and what you hope to achieve. If you decide to file for bankruptcy, this information will be available to the public, but it's unlikely that your family and friends will know that you filed unless you personally share that information with them. 

bankruptcy attorney

Many individuals can qualify for Chapter 7 bankruptcy if they have a relatively low net income (based on the number of family members in their household) and have high expenses that make day-to-day life difficult. Those who do not qualify for a Chapter 7 bankruptcy may still be able to file for Chapter 13, which restructures debt and develops an affordable repayment plan through the courts.

You shouldn't be ashamed for taking the necessary steps to get your finances in order. If you are interested in learning more about filing for bankruptcy in Connecticut, contact the most reliable bankruptcy attorney in New London County: Mark O. Grater Attorney at Law. He also handles a variety of other cases including personal injury, worker's compensation, and products liability. Call (860) 449-8059 today to make an appointment, or visit the bankruptcy lawyer's website to learn more.

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