Consumer Bankruptcy Lawyers in Soldotna, Alaska

Soldotna Consumer Bankruptcy Lawyers, AK

Find the Right Lawyer Now

Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is typically considered as an option of last resort, because while it can stave off financial disaster, it has some substantial long-term consequences warranting careful consideration of the costs and benefits. Bankruptcy is governed by federal law, and proceeds in federal courts. So, the procedure for filing for bankruptcy in Alaska will be very similar to the procedure anywhere else in the U.S. However, individual bankruptcy courts have different rules for exemptions, so it might be a good idea to consult with a local attorney in Soldotna, Alaska before filing.

Chapter 7 Bankruptcy in Soldotna, Alaska

In Soldotna, Alaska, there are 2 commonly-used forms of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy involves a liquidation of some of the debtor's assets, which pays off part of his or her debt. Once this is done, the remaining debt is excused. Fortunately for debtors, many types of property are exempt from liquidation, including homes, vehicles, necessary personal items, and retirement accounts.

Once appropriate assets are sold, and the money turned over to the creditors, most remaining debt is excused. However, there are certain types of debt that cannot be excused in bankruptcy, including student loans, taxes, child support, and criminal fines. If most of your debt is non-dischargeable, it may not be a good idea to file for bankruptcy in Soldotna, Alaska.

Chapter 13 Bankruptcy in Soldotna, Alaska

Chapter 13 bankruptcy in Soldotna, Alaska is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your specific case. Chapter 13 does not excuse debt, but restructures it instead. Typically, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is typically manageable, as long as the debtor can make some sacrifices.

Find a Soldotna Lawyer that Specializes in Your Area of Need:

Which Type of Consumer Bankruptcy Should I File in Soldotna, Alaska

This depends entirely on the facts of your specific case. If you have a decent amount of steady income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 might be the best option for you. If most of your property is exempt, and you don't have much steady income, Chapter 7 might be the best option.

Regardless of your situation, you should speak with an attorney in Soldotna, Alaska who is experienced in bankruptcy before making a decision. They will be able to advise you of your options, and the likely results of each one, allowing you to make a much more informed decision.

5 Bankruptcy, Banking and Credit cases posted to LegalMatch lawyers in Soldotna

Consumer Bankruptcy Attorneys in the Largest AK Cities

Show Alaska Cities

Consumer Bankruptcy Lawyers in Other Alaska Cities and Towns


Find the Right Lawyer Now

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Bankruptcy, Banking and Credit Lawyer
LegalMatch Bankruptcy, Banking and Credit Lawyer Christopher K.

Christopher K.

Los Angeles West, AK

Bankruptcy, Banking and Credit

Rating (18 users) *****
See Reviews
Real Estate, Housing & Property Law Lawyer
LegalMatch Real Estate, Housing & Property Law Lawyer K A.

K A.

Oakland, MI

Real Estate, Housing & Property Law

Rating (49 users) *****
See Reviews
Medical Malpractice Lawyer
LegalMatch Medical Malpractice Lawyer Tamara S.

Tamara S.

Mitchell, TX

Medical Malpractice

Rating (2 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Teresa V.

Teresa V.

Licking, OH

Family Law

Rating (1 users) *****
See Reviews

Need a Bankruptcy Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: