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Handling Bankruptcy

Handling Bankruptcy

One of the most difficult circumstances a person can face is that of filing for bankruptcy. It takes an emotional, mental and physical toll on everyone involved and can takes years of recovery. But what is important to understand about bankruptcy is that it is not the end of the world. It is devastating, no doubt, but there is life after bankruptcy. While it may take time to restore your credit, it could give you the fresh start you need to get back on track.

According to legal technology provider Epiq Systems, an estimated 1.21 to 1.25 million Americans will file for bankruptcy this year. But it’s not just individuals; corporations are feeling the squeeze as well. In perhaps a clear sign of the digital times, prominent book publisher Houghton Mifflin Harcourt recently sought bankruptcy protection to relieve $3 billion of debt.

Here in Kansas City, we are feeling the economic pinch just like the rest of the country, and many in the area are turning to bankruptcy to get debt relief. If you are considering bankruptcy for yourself or your business, it’s important to realize that, with help, it can be handled.

Several key things to keep in mind that can bring peace of mind to your situation is to realize what is protected. First, if you are an individual filing for bankruptcy, it doesn’t mean you will lose your job. In fact, there are federal laws that protect those filing for bankruptcy under their fair employment act.  Second, most of the time your house, car and retirement accounts are also protected. They cannot be liquidated or seized in most situations. Finally, you will be able to qualify for credit again within months of bankruptcy and will be able to build it back up over time.

Because it is difficult to file bankruptcy without representation, it’s also important to seek out a good bankruptcy lawyer. At Leslie Williams Law, I promise to do the best job for you and help you through the devastating challenge. I’ll answer all of your questions and help you understand the total experience so that you know what to expect.

Remember, you’re not alone in this. Millions of Americans have experienced the same thing and have come out on the other side, and the same can be true for you.  Leslie is ready to speak with you. Leslie’s normal office hours are 8:30 am – 5:00 pm.  Please feel free to call as anytime to leave a message at 816-533-4331, or you can come into the office in Blue Springs.  You can also use our web submission form, and you will be contacted regarding your legal issue.

4 replies
  1. Sajjad says:

    You have a couple of otipons. If you are wanting to buy time to stay in the home, and find a new place to live. You will have 45 days from the 341(Meeting of Creditors) to surrender the house. If you don’t, then the Automatic Stay will left and they can start getting you out of the house.The 341 Meeting normally takes place about 30 days or so after filing.However, some creditors will file a Motion For Relief, in order to speed up the Process. If that is filed, then you are probably looking at about 30 days or so before the Order is filed with the court, for the mortage company to move forward with getting the home.

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