Consumer Bankruptcy Lawyers in Windham, Connecticut

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

Chapter 7 Bankruptcy in Windham, Connecticut

There are 2 common types of consumer bankruptcy in Windham, 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 eligible property is sold, and the funds transferred to the creditors, the dischargeable debt is excused. Some forms of debt, however, can't be discharged in Chapter 7 Bankruptcy in Windham, Connecticut. These include student loans, criminal fines, and taxes, among others. If most of your debt can't be discharged, Chapter 7 may not be the best choice for you.

Chapter 13 Bankruptcy in Windham, Connecticut

Chapter 13 bankruptcy in Windham, 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 eliminate any debt, but it creates a new payment plan that should give the debtor some breathing room. Typically, all of the debts are consolidated into 1 periodic payment. While this may 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 Windham, 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.

Regardless of your situation, you should speak with an attorney in Windham, Connecticut who is accomplished 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 Windham

Home to almost 25,000 residents, beautiful Windham, Connecticut encompasses 27.9 square miles. Windham is a town that contains the city of Willmantic and the villages and North ad South Windham. The city was incorporated in 1692 and has been thriving ever since.

Windham was named after Wyndham, England -- a town in England. Windham is a city with a lot of historic charm and has many places on the National Register of Historic Places. Windham was also home to many notable residents and is a town where the residents take lots of pride in living there.

In addition to history, Windham is a city with a great professional community. From lawyers, doctors, and accountants, the city attracts some of the best in the business. Windham lawyers are skilled in a wide range of practice areas and are always available to serve their local client with any legal issue he or she may be confronted with. If you are looking for a great lawyer in Connecticut, then look no further than the charming city of Windham.

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