Consumer Bankruptcy Lawyers in Trumbull, Connecticut

Find the right Consumer Bankruptcy attorney in Trumbull, 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 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 Trumbull, Connecticut will have individual rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Trumbull, Connecticut

There are 2 common forms of consumer bankruptcy in Trumbull, 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 need to be sold.

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

Chapter 13 Bankruptcy in Trumbull, Connecticut

In Trumbull, 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 an adjusted 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 Trumbull, Connecticut

This depends entirely on the facts of your particular 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 Trumbull, Connecticut who is experienced in bankruptcy before making a decision. They will be able to advise you of your options, and the likely consequences of each one, allowing you to make a much more informed decision.

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Life in Trumbull

The town of Trumbull is located in Fairfield, Connecticut. It has consistently been ranked by several magazines as one of the top 100 best places to live in the U.S. In 1997, a time capsule was planted at the city's Bicentennial Fountain, to be opened on October 12, 2097, which would mark the city's tri-centennial anniversary.

Part of Trumbull's appeal lies in its many attractions and places to visit. For example, popular tourist sites include the Trumbull Nature Arts Center, the Trumbull Historical Society Museum, and the Town Hall Gazebo. The Town Hall Gazebo hosts several night concerts during the summer season.

Trumbull is also home to the Tashua Recreation Facility, a 268 acre facility that houses basketball and tennis courts, playgrounds, a swimming pool and a multi-purpose field. Outdoor enthusiasts also have plenty of opportunities for activities, as Trumbull has dedicated over 1,600 acres for recreation and open space parks.

Lawyers in Trumbull, Connecticut spend much of their time at the Fairfield Judicial District Superior Court, where they litigate a variety of legal claims. Many Trumbull lawyers are members of multiple Bar Associations in addition to the Connecticut Bar Association.

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