Bankruptcy Attorneys Serving Northwest Arkansas
We Are Ready to Help You Get Out of Debt
Our compassionate lawyers at Martin Attorneys, PA know firsthand that unexpected life changes can leave you struggling to pay your bills. If you have recently lost your job, had a medical crisis, or can no longer keep up with the high-interest rate on your credit card, then filing for Bankruptcy might be the solution to your financial woes. Our legal team knows what it’s like when the phone is ringing day and night with creditors demanding payment or when your mailbox is flooded with Foreclosure notices. So if you are feeling like you have tried everything and are out options, then please call us today so we can help you get a fresh start.
Guiding Clients Through the Bankruptcy Process
At Martin Attorneys, PA, we believe that Bankruptcy is not a failure, but a fresh start. We have the extensive legal resources you need in your corner to help guide you through a Chapter 7 (liquidation), a Chapter 13 (reorganization) bankruptcy or a Chapter 11 bankruptcy. Our firm has used our more than 30 years of experience to help over 8,000 families and businesses in Northwest Arkansas declare Bankruptcy.
Whether your debt problems are from credit cards or you have property and assets in different states, no case is too simple or too complex for our talented legal team to take on. Our bankruptcy lawyers are here to help you through your financial crisis so you can finally move on to better days ahead.
Chapter 7 vs Chapter 13
Chapter 7 and Chapter 13 bankruptcy differ in how debt repayment is handled. In Chapter 7, assets are liquidated to repay creditors, and most unsecured debts are discharged, providing a quick fresh start but potentially involving asset sale. In contrast, Chapter 13 involves a repayment plan over 3-5 years, allowing individuals to retain assets and catch up on missed payments. It's suitable for those with regular income who aim to protect assets and make consistent payments.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy is a form of bankruptcy available to businesses and individuals with significant debts. It enables debtors to reorganize their finances and create a repayment plan while maintaining their operations. This bankruptcy option allows for debt term renegotiation, reducing obligations, and potential asset sales for generating funds. It is frequently used by businesses to restructure and recover from financial difficulties but can also assist individuals with substantial debt. The process entails submitting a reorganization plan to the court for approval, and debtors retain control of their assets and operations throughout the proceedings.
To set up your free first visit with Martin Attorneys, PA, please call us today at (479) 888-2039.