Emilio Francisco & Associates, LLP - Attorney At Law

Bankruptcy

Bankruptcy is the absolute last resort in the process of saving your home. Under certain circumstances however, it may be the only viable solution for some clients. After a thorough analysis of your case it shows that financial resolution is not a feasible solution, we may recommend bankruptcy as an alternative to get you and your home maximum protection.

The bankruptcy process allows consumers to have their qualifying debt forgiven in federal court. The law protects homeowners when they do not have the ability to meet their creditors’ repayment demands. Our network of bankruptcy attorneys can handle your case depending on the state you reside in. Complete the form below to find out if you qualify for bankruptcy:

After successful completion, the bankruptcy court will issue a documentation of discharge, which legally releases the consumer from his debts. Your creditors will then have no legal authority to contact you or pursue any of your debts listed in the bankruptcy discharge documentation.

Filing for bankruptcy also activates an automatic stay, which stops creditors from any attempt to collect from you. This prohibits phone calls and letters from collection agencies, wage garnishments, lawsuits, bank levies, and any other type of collection tactics from your creditors.

The two common bankruptcy options for consumers are: Chapter 7 and Chapter 13. Chapter 7 allows you to discharge debts completely if you qualify under the new bankruptcy reform guidelines, while Chapter 13 is a debt consolidation plan which allows you to repay a portion of your financial obligations overtime.