Residents in Independence, MO know when they need legal help with bankruptcy issues, RS Law, Attorneys at Law is the law firm to call. Our lawyers know bankruptcy law inside and out. Chapter 7, Chapter 11, Chapter 13, no matter what kind of help you need, RS Law is your best bet.

Free Bankruptcy Consultation for Independence Residents

If you live in Independence and you need some information about bankruptcy law, call us at RS Law. Our law firm will provide a free consultation and let you know if bankruptcy makes sense for you and your situation. Whether you are an individual or a business owner, we can provide you with critical information and tell you what to expect from the legal system. The laws can be confusing, but we’ll help you make the most informed decision.

Filing for Bankruptcy Can Help You Keep your Property

Filing for bankruptcy should make your life better. At RS Law, we can help you keep your home and vehicles, eliminate debts, home equity loans, second mortgages, and even delay your next mortgage payment. We will make the process of filing for bankruptcy easier and less stressful. Our lawyers will show you the way to get back on solid ground financially.

Understanding Bankruptcy Laws

There are different kinds of bankruptcy, so which one applies to you or your Independence company? Our lawyers will help you figure it out, but here is a short breakdown. Basically, there are three types – Chapter 7, Chapter 11 and Chapter 13. Chapter 13 bankruptcy is reorganization bankruptcy. Your debt levels are reduced to help you make the payments. To avoid repossession or foreclosure on your Independence home, you are allowed to make up missed payments over a three- to five- year period. As long as you make monthly payments, you can keep your property. Chapter 7 bankruptcy is liquidation bankruptcy. It applies to companies who are past the stage of reorganization and must sell off, or liquidate – hence the name – any assets to pay creditors. Finally, Chapter 11 bankruptcy is rehabilitation bankruptcy. It gives a company time to reorganize its debt to try to re-emerge as a healthy organization. We will contact creditors to change the terms on loans and interest rates. It’s important to note that debt is not absolved, just the terms of the debt. The firm must continue to pay back their debt.

Call us for a free bankruptcy consultation today. We make the complicated, less complicated.