EXPERIENCED BANKRUPTCY ATTORNEYS in ARKANSAS
Make The Right Call!
- Are you drowning in debt?
- Do you avoid opening your mail?
- Is your home in foreclosure or near foreclosure?
- Do you avoid answering calls from an unknown caller out of fear it will be a bill collector?
If you answered yes to the above questions, bankruptcy may be a solution for you. Caddell Reynolds is a leading bankruptcy law firm helping people in Arkansas reorganize debt and get their lives back on track.
Bankruptcy Lawyers Fighting For You
Let us help you file for bankruptcy relief. Generally, there are two main types of bankruptcy that individuals can use to help get out of debt and lift your burden. Which one is best for you depends on your overall financial situation and the type of debt you have.
Bankruptcy law is complicated, but you don’t have to go through it alone. Caddell Reynolds is here to help you through your difficult time, so you can move on to the good things in life.
Hire Caddell Reynolds to Handle Your Bankruptcy Case
If you are drowning in debt and have serious financial concerns call the experienced Arkansas bankruptcy lawyers at Caddell Reynolds for help at 800-671-4100. When you call, you will speak with one of our top Arkansas debt relief attorneys absolutely FREE.
Call Caddell Reynolds, a leading Arkansas bankruptcy law firm. We have offices conveniently located throughout Arkansas to better serve you.
We offer free phone consultations. Free office consultations. And if you cannot get to us, we can come to you. We want to make it as easy as possible for you, so call us and ask any questions about a bankruptcy claim.
Chapter 7 Bankruptcy
This is bankruptcy for individuals who need a fresh start. To qualify for Chapter 7 bankruptcy your income can be no more than the median income of others in the state. Debts that will be discharged include:
- Past due rent and utility bills
- Unsecured credit card debt
- Medical bills
- Delinquent taxes more than three years old
Debts you will still owe at the close of the Chapter 7 proceedings include:
- Student loans
- Taxes incurred within the last three years
- Past due child support and alimony
- Any court-imposed fines or judgments
If you have a mortgage or a car loan and want to keep your house or vehicle, you will need to continue making those payments.
If your business is viable but you are facing debt problems—including potential legal actions by creditors—and have difficulty making timely payments, Chapter 11 may be your best option. Rather than a liquidation bankruptcy like Chapter 7—in which assets are sold off to satisfy creditors—Chapter 11 is a reorganization or restructuring which allows a business to remain in operation.
Chapter 11 provides a legal way to give a business a fresh start. In Chapter 11, an individual or business may be able to negotiate new agreements and payment schedules with creditors. During a period of financial hardship, a business or individual in Chapter 11 may—with approval of the Bankruptcy Court—be able to resolve problem debts and reduce amounts due. When done carefully and correctly, Chapter 11 allows for a positive reorganization.
If you have a farming or fishing business and are facing massive debt, consider Chapter 12. Chapter 12 bankruptcy is designed specifically for family farmers, family fishermen, and individuals who cut timber in their ordinary course of business. This includes family farms or fishing operations that are incorporated or involved in partnerships, provided the farmer or fisherman has regular annual income.
The payment structure of a Chapter 12 bankruptcy follows the harvest seasons when farmers or fishermen earn the majority of their income, rather than requiring that payments are made throughout the year. While under a proposed Chapter 12 plan, a family farmer or fisherman must prove they are financially stable enough to make payments and will have enough left over to provide for their family.
If you have enough income to continue making your payments but have gotten behind and need a chance to catch up, this chapter allows you to reorganize your financial life. You can pay your past-due debts over a three- to five-year period. If you comply with the terms of your repayment plan, remaining debts may be discharged.
A bankruptcy is not only filed to protect a debtor from his or her creditors or collectors during times of financial hardship. Of course, if you find yourself in default on a mortgage or vehicle, or are being sued by a creditor or collector are usually experiencing a downturn in their finances.
Some consumers may pass through a time of hardship, have recovered, but are having trouble bringing their debts back to a current status. Any of these events and others can drive people into bankruptcy.
Bankruptcy can be used not only as a shield to protect oneself from their creditors and collectors, but also as a sword to combat creditors and collectors who are engaging in unlawful and unjust practices.
In bankruptcy, the consumer (or debtor as one who files bankruptcy is called) can protect their property and assets while prosecuting claims against their creditors and collectors before the Federal Bankruptcy Courts.
Bankruptcy Courts, in many circumstances, enjoy what is referred to as supplemental or pendent jurisdiction. This means that a claim that could be brought before a state court or a Federal District Court can be brought before the Bankruptcy Court while one’s property and assets are protected.
Whether claims arise from mortgage servicing abuse, mortgage modifications, Fair Debt Collection Practices Act violations or a number of other sources of consumer strife, the Bankruptcy Court may be the best venue to assert one’s claims.
Caddell Reynolds is Here for You and Your Family
At Caddell Reynolds, we want to be your advocate so you can feel protected and have your voice heard through the legal system. Our goal is to provide a protective shield around you and your family in your time of need.
If you have questions about filing for bankruptcy or debt relief, we’ll help you find answers. Let our experienced attorneys help protect your rights to the full and fair compensation you deserve.
At Caddell Reynolds, we offer a free consultation and have staff members ready to take your call. We will determine how to best proceed.
Call Caddell Reynolds Bankruptcy Law for a Free Legal Consultation at 800-671-4100, or contact us by filling out the Free Consultation Form below.
Caddell Reynolds. Make the right call!