Consumer Bankruptcy Lawyers in Darien, Connecticut

Find the right Consumer Bankruptcy attorney in Darien, CT

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 a creation of federal law, and goes through federal courts. Therefore, the procedure governing bankruptcy in Connecticut will be roughly the same as it is anywhere else in the U.S. But individual courts have different rules for what property is exempt, so you should consult a local Darien, Connecticut before you file.

Chapter 7 Bankruptcy in Darien, Connecticut

There are 2 typical types of bankruptcy in Darien, Connecticut. They are known as Chapter 7 and Chapter 13 Bankruptcy. 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 eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is absolved. However, some types of debt cannot be discharged in bankruptcy, including student loans, taxes, child support, personal injury awards, and fines. If most of your debt in Darien, Connecticut is not dischargeable, you might want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Darien, Connecticut

Chapter 13 Bankruptcy in Darien, Connecticut differs considerably from Chapter 7. It might be a better option than Chapter 7, depending on the facts of your 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.

Which Type of Consumer Bankruptcy Should I File in Darien, Connecticut

Which Bankruptcy type to file under depends heavily on the facts of each distinct case. If you have a steady stream of income (enough to make a payment plan manageable), and a large amount of non-exempt property that you don't want to part with, Chapter 13 may be best for you. If you don't have a steady income or large amounts of non-exempt property, you may be better off filing for Chapter 7.

Whatever your situation, you should speak with a local Darien, Connecticut bankruptcy attorney. Your lawyer will be able to advise you of your options and their likely results, which will help you make a more educated decision.

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Life in Darien

The small town of Darien, Connecticut is one of the most affluent communities in the United States. Located on the "Gold Coast" of Connecticut, Darien is home to just under 20,000 residents. Darien is a popular city for people who work in New York and surrounding areas to live.

The median home price in Darien is million. Kate Bosworth and Topher Grace are just two celebrities that called Darien home at one time or another. Darien has small city charm, lots of city parks, and wonderful shopping for tourists and residents to enjoy. Darien is also a wonderful place to stay as there are many popular boutique hotels to enjoy.

In addition to residents enjoying a high standard of living in Darien, there are also many talented lawyers in Darien. Darien lawyers are available to serve their community in any legal issue they may find themselves confronted with. Lawyers in Darien are the best at what they do and residents of Darien are lucky to live there not just because of the location, but because of the amazing legal cultural in Darien.

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