Feel free to browse our site for additional information on bankruptcy and find answers to commonly asked questions. We want you to be prepared and 100 percent certain with you decision so we are here to make sure you understand everything there is to know about the process.
If you would like to speak with a leading bankruptcy lawyer near you, simply click on your city and you will be connected to the best legal professionals in the area. Call to set up an appointment and be on your way to eliminating your debt.
Maine Bankruptcy Facts
Bankruptcy is a federal process that allows debtors to reduce or possibly even eliminate their debt under the protection of bankruptcy court. It’s important to understand that only certain kinds of debt are allowed to be reduced or wiped out, generally those that are unsecured, or not backed by assets. Bankruptcy will not wipe out debt from child support or some taxes.
If you are considering filing, chances are you may end up either filing for Chapter 7 or Chapter 13 bankruptcies – the two most commonly filed in the state. Chapter 7 is known as liquidation bankruptcy because it eliminates debt in exchange for the liquidation of your assets. This is a popular choice because both individuals and businesses may qualify and emerging from bankruptcy protection only takes a few months.
The second most popular petition in Maine is Chapter 13 reorganization bankruptcy, which is very different than Chapter 7. This chapter does not require any assets to be liquidated, but instead, allows debtors to pay off their debts (or at least the majority of it) to creditors over a period of 3 to 5 years. However, only individuals may file.
There are times in which debtors can qualify for both chapters so determining which would be the better option is not an easy thing to do. Luckily, legal counsel is available right now to make the process much easier.
How Maine Bankruptcy Lawyers Help You Obtain Debt Relief
There are times when a debtor may actually qualify for both Chapter 7 and Chapter 13, and may not know what the better option would be for their individual needs. That’s where an experienced Maine bankruptcy attorney comes in handy. When you work with an experienced lawyer who knows everything there is to know about Maine bankruptcy court, you can rest assured your case will be resolved quickly and your rights will be protected.
Our site can conveniently connect you to some of the most acclaimed bankruptcy attorneys in your area who will represent you with passion and integrity. We know that dealing with debt is not easy, and we want to make the process of eliminating it as easy as possible by providing you with quick and simple connections to the best attorneys in your state.
Only the best bankruptcy attorneys in Maine can be found on our site, so you never have to worry about their credentials or if you should trust them. For swift and simple debt revive in Maine, contact one of our featured lawyers today to discuss your options for debt relief.