Consumer Bankruptcy Lawyers in Middletown, Connecticut

Find the right Consumer Bankruptcy attorney in Middletown, CT

Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is usually considered as an option of last resort, because while it can stave off financial disaster, it has some significant 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 Middletown, Connecticut before you file.

Chapter 7 Bankruptcy in Middletown, Connecticut

There are 2 common types of bankruptcy in Middletown, 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 discharged. Fortunately for debtors, many types of property are exempt from liquidation, including homes, vehicles, essential personal items, and retirement accounts.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is discharged. But some types of debt cannot be discharged through Chapter 7 bankruptcy. These include child support payments, student loans, and criminal fines, among others. If most of your Middletown, Connecticut debts are not dischargeable, you might want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Middletown, Connecticut

In Middletown, Connecticut, Chapter 13 is quite different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your particular situation. Chapter 13 Bankruptcy involves a court setting up a modified payment plan, which allows the debtor to pay off most or all of his debts over a longer period of time, through monthly payments that should, assuming that the debtor is willing to make a few sacrifices, be manageable.

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

The answer to this question depends heavily on your individual situation. If you have enough steady income to manage a payment plan, and a lot of non-exempt property that you are unwilling to part with, Chapter 13 might be a good option. If you don't have much steady income, and most of your property is exempt, Chapter 7 might be better.

In any case, you should talk with a local Middletown, Connecticut bankruptcy attorney. Your attorney can advise you of your options and inform you of their likely consequences. This will make it much easier for your to make an informed choice.

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Life in Middletown

Middletown, Connecticut is a city in Middlesex County. Its population is about 47,000 people, according to a 2005 estimate by the U.S. Census Bureau.

The first foreign settlement of the area now known as Middletown came in 1650, by emigrants from a settlement nearby, which had been established a few years earlier. These settlers were Puritans, and during their period of influence, life was harsh. Some of this harshness was self-inflicted, in the form of extremely draconian laws, which allowed the death penalty for "crimes" such as cursing, blasphemy, and "incorrigible stubbornness of children."

During the Industrial Revolution, Middletown saw a major influx of immigrants from various parts of Europe, including Ireland, Italy, Germany, and Poland. This diversity is evidenced even today, with Middletown's various neighborhoods and ethnic restaurants (for which the city is becoming increasingly well-known), and the general cultural diversity of the city. Modernly, Middletown is a residential community, with the Middlesex Hospital being one of the largest employers.

If you live in Middletown, Connecticut, and need an attorney, you're in luck. There are many Middletown, Connecticut lawyers who can handle virtually any type of legal problem a person might have.

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