Establishing New Credit History
In cases where a client's income level is too high to qualify for Chapter 7, he has helped in the process of filing for Chapters 11 and 13. If you are seeking information about bankruptcy and require advice on debt relief and what form of bankruptcy is for you, contact his office today. Marcus L. Vanover, a Somerset, Kentucky lawyer, has experience handling credit card debt, secured debt, debt reorganization, debt repayment and stopping foreclosure.
Marcus L. Vanover can help in getting started back on the right road.
Kentucky Chapter 11 Bankruptcy Attorney
Chapter 11 bankruptcy is typically business-related debt. The amount of debt usually exceeds the amount associated with Chapter 13, but once approved, the process is usually completed in six months. With this form of bankruptcy, the small business retains the ability to process payroll and go about most business activities while making debt payments to the creditors. In many cases, after a completed Chapter 11 bankruptcy, the company can continue it's operation, sometimes with increased efficiency.
Somerset Chapter 13 Bankruptcy Lawyer
In contrast to Chapter 11, Chapter 13 bankruptcy involves a restructuring of the consumer's existing debt. A consumer needing to protect valuable assets or a consumer with too much income to qualify for Chapter 7 may qualify for Chapter 13. The debtor typically pays anything from 10 percent to 100 percent of the total debt back, as long as the debtor is receiving steady income. The debtor is able to set up a new payment schedule for the amount owed that is more manageable. This form of bankruptcy typically takes three to five years. If you are seeking legal representation or information about Chapter 13 bankruptcy, contact a Somerset Chapter 13 bankruptcy lawyer today at 877-303-9731.
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If you are seeking legal representation, contact his office today. Call a Somerset Chapter 13 or 11 bankruptcy lawyer today at 877-303-9731, or contact him online.
This is a debt relief agency. It helps people file for bankruptcy relief under the Bankruptcy Code.
