If you live in Lee’s Summit or run a business, and you need help with bankruptcy law, call the bankruptcy law professionals at RS Law. Our lawyers will walk you through your options and help you decide what’s best for you. There are many different kinds of bankruptcy, and our attorneys will explain the difference.
We Make Bankruptcy Filing Affordable
Our team of bankruptcy attorneys makes filing for bankruptcy as convenient and affordable as possible. Many people considering bankruptcy, understandably, are concerned about cost. Our fees are very competitive. First, we start your case by helping you file your chapter 7 or chapter 13 bankruptcy petition with the court. This stops annoying phone calls from creditors, garnishment of your wages, and the foreclosure and the sale of your Lee’s Summit home! Even if you’re on a limited income, we can provide solutions. We can work out payment arrangements even if you rely solely on social security. Our lawyers understand that bankruptcy is not easy for anyone to go through. Our job is to make it easier for you.
Types of Bankruptcy Explained
There are different chapters of bankruptcy and each one can help people get back to solid financial ground. At RS Law, we focus on three:
Chapter 13 bankruptcy is known as reorganization bankruptcy. It allows you to pay off missed debts to avoid repossession or foreclosure. Your debts are reduced to help make the payments affordable. It usually covers a three- to five- year period. As long as you pay your monthly payment, you can keep your property including your Lee’s Summit home.
Chapter 11 bankruptcy is known as rehabilitation bankruptcy. Its purpose is to give a company time to reorganize its debt and re-emerge as a healthy organization. We call your creditors to lower interest rates and payments. Debt is not absolved in chapter 11. The restructuring only changes the terms of the debt, and the firm must continue to pay it back.
Chapter 7 bankruptcy, also known as liquidation bankruptcy is for companies who are past the stage of reorganization and must sell off (liquidate) assets to pay off creditors. You are allowed to keep much of your property because it is protected under the law. If you live in Lee’s Summit and need legal help in a bankruptcy case, call RS Law. We’ll help get you back on track financially.
Call the law firm of RS Law for a free bankruptcy consultation today. We make the complicated, less complicated.