in Fayetteville, AR
There are many ways to resolve an overwhelming debt. However, throughout Fayetteville, bankruptcy is by far the most common option. Depending on your debt situation, other remedies to debt may be available for your consideration in place of bankruptcy.
At Steven Kay & Associates, our bankruptcy lawyers have represented thousands of business and individual debtors in and around Northwest Arkansas to get back on their feet after going through a financial crisis. Whether you are filing chapter 7 bankruptcy or chapter 13 bankruptcy, our knowledgeable bankruptcy lawyer will be on standby to represent you in and out of court.
Our bankruptcy lawyer has expertise in the state’s bankruptcy law, business law, foreclosure defense, asset protection law, probate law and tax law. Our litigators are also skilled at defending victims of the credit industry.
Our goal is to help you become debt free through legal measures specifically tailored for your case so you and your family may realize genuine peace and financial stability.
How Steven Kay & Associates can help
We evaluate cases to determine whether filing a personal bankruptcy is in your best interest given your present situation, and if so, whether filing chapter 7 bankruptcy or chapter 13 is appropriate.
Filing chapter 7 bankruptcy
This involves liquidating your assets and using the proceeds to settle your debts. Some unsecured debts (like credit card debts) are then discharged to reduce your debt significantly. There is no repayment plan and you are able to turn over a clean page and start afresh.
Filing chapter 13 bankruptcy
This can be a viable option if you have enough income to make monthly payments toward clearing your debts. Your debts are consolidated into one payment plan which may last up to five years.
The purpose of bankruptcy law
Bankruptcy is intended to help you get a fresh start. When filing chapter 13 bankruptcy, or chapter 7 bankruptcy, our lawyer will assess your situation and give you straightforward advice and guide every step of the process.
Contact our law firm today to see exactly how we can help when filing chapter 13 bankruptcy.