Consumer Bankruptcy Lawyers in Shelton, Connecticut

Find the right Consumer Bankruptcy attorney in Shelton, 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. Being a product of federal law, bankruptcy will go through federal courts. Accordingly, the procedure for filing for bankruptcy in Connecticut is basically the same as the procedure anywhere else in the United States. However, individual courts in Shelton, Connecticut will have distinct rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Shelton, Connecticut

There are 2 typical forms of consumer bankruptcy in Shelton, Connecticut: Chapter 7 and 13. Chapter 7 bankruptcy involves liquidation of some of the debtor's assets. It requires some percentage of the debtor's property to be sold in order to pay off as much of his or her debt as possible. However, the majority of property that most people own is exempt. This typically includes homes, vehicles, insurance policies, and retirement accounts. These do not need to be sold.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is excused. 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 Shelton, Connecticut debts are not dischargeable, you might want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Shelton, Connecticut

In Shelton, Connecticut, Chapter 13 is substantially different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your specific situation. Chapter 13 does not absolve any debt, but it creates a new payment plan that should give the debtor some breathing room. Usually, all of the debts are consolidated into 1 periodic payment. While this might make it take longer to pay off the debt, if the debtor is willing to make a few sacrifices, the plan should be manageable.

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

The answer to this question depends heavily on your distinct 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, it would be a good idea to consult a local bankruptcy attorney in Shelton, Connecticut. Your attorney can make an educated judgment as to what your best option is, and advise you accordingly (of course, the choice to file for bankruptcy is ultimately yours).

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Shelton

Beautiful Shelton, Connecticut is home to close to 39,000 residents and located in Fairfield County. Shelton was first settled in 1639 and has been growing ever since. Shelton encompasses 39 square miles and is one of the few cities in connecticut with its own sheriff department.

Tragedy struck the city in 1975 when it was the victim of the largest arson fire in American history. The city has recovered from the fire, but the city once known for being a major rubber manufacturer never had the industry revived to the same level. The city is currently undergoing a major downtown revitalization -- an effort that will unite the community.

In addition to two golf courses, Shelton also has many outdoor activities for its residents to enjoy. Shelton also has a great legal community with lawyers trained to serve their local clients in issues ranging from divorce to drafting a deed. Shelton lawyers are an important part of the growing community and trained at some of the top law schools in the country. Whether living, working, or just visiting Shelton, a good lawyer is never far away.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Ian M.
Ian M.

Bankruptcy, Banking & Credit

Richboro, PA

Eddy H.
Eddy H.

Bankruptcy, Banking & Credit

San Mateo, CA

Howard B.
Howard B.

Bankruptcy, Banking & Credit

Rye Brook, NY