Consumer Bankruptcy Lawyers in Cranston, Rhode Island

Find the right Consumer Bankruptcy attorney in Cranston, RI

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt discharged. It is almost always considered as a last resort because it can have some negative long-term consequences which must be considered, even if you eventually decide that they are outweighed by the benefits. Bankruptcy is controlled by federal law, and proceeds in federal courts. So, the process for filing for bankruptcy in Rhode Island will be very similar to the process everywhere else in the U.S. However, individual bankruptcy courts have different rules for exemptions, so it might be a good idea to consult with a local lawyer in Cranston, Rhode Island before filing.

Chapter 7 Bankruptcy in Cranston, Rhode Island

There are 2 common forms of bankruptcy in Cranston, Rhode Island. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 liquidates part of the debtor's assets. It requires a certain percentage of the debtor's assets to be sold off to pay as much of his or her debt as possible. However, many forms of property that most people own are exempt, meaning that they don't need to be sold. This often includes houses, vehicles, insurance policies, and essential personal items, like clothing. These assets are not available to creditors.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is excused. However, some forms of debt cannot be discharged in bankruptcy, including student loans, taxes, child support, personal injury awards, and fines. If most of your debt in Cranston, Rhode Island is not dischargeable, you may want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Cranston, Rhode Island

In Cranston, Rhode Island, 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 revised 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 Cranston, Rhode Island

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, it would be a good idea to consult a local bankruptcy lawyer in Cranston, Rhode Island. Your lawyer 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 Cranston

Cranston is located in Providence County, Rhode Island, It was once called Pawtuxet. It is the third largest city in the state, with a population of 80,387 per the 2010 census.

Interestingly, Money Magazine named the city amongst the "100 Best Place to Live" in 2006. CQ Press's conducted research ranks Cranston amongst the "Twenty-Five Top Safest Cities in the U.S."

Popular attractions include the Warwick Mall and the CLCF Building. One unfortunate reason the city is known is because in 2010, the Pawtuxet River overflowed, adversely affecting many prominent sites and residences around Cranston.

Famous residents include A.J. Smith, Deon Anderson, Hugh Duffy, Mark Van Eeghen, Michael Parkhurst, Vinny Paz, Will Blackmon, Tom Denucci, Jeff Diehl, and Mike Stud.

Cranston is also home to attorneys that are able to provide residents and local businesses with excellent legal advice. Therefore, residents and business owners do not need to travel far to have their legal needs taken care of.

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