Consumer Bankruptcy Lawyers in Southington, Connecticut

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

Chapter 7 Bankruptcy in Southington, Connecticut

There are 2 common types of consumer bankruptcy in Southington, 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 usually includes homes, vehicles, insurance policies, and retirement accounts. These do not have to be sold.

Once the non-exempt property is sold, the rest of the dischargeable debt is excused. Some forms of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Southington, Connecticut is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Southington, Connecticut

Chapter 13 bankruptcy in Southington, Connecticut is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your particular case. Chapter 13 does not discharge debt, but restructures it instead. Usually, 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 usually manageable, as long as the debtor can make some sacrifices.

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

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

In any case, you should talk with a local Southington, Connecticut bankruptcy lawyer. Your lawyer 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.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Southington

Located just twenty miles from Hartford, Southington, Connecticut is one charming town. Southington is home to close to 40,000 residents. Southington is located on 36.6 square miles and has been nicknamed the "Apple Valley" for the many apple orchards that are located within the city limits. Not surprisingly, Southington hosts an apple festival every year.

Located in Hartford County, Southington has the honor of being recognized as having the best quality of life in the county. The beautiful Quinnipiac River runes along the town, and there are also many beautiful parks throughout the city.

Southington is also home to the world's most popular television station -- ESPN, and many of the station's sports reporters living within the Southington city limits. Southington is also home to great lawyers. Southington lawyers are versed in a range of legal practices to assist their clients with any legal matter than may come his or her way. Southington attorneys are second to none!

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