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| Bankruptcy |
Both individuals
and businesses may find themselves unable to pay
their debt when it becomes due. When that happens,
their credit rating is substantially reduced; they
may be subject to potential lawsuits that lead
to judgments and garnishments.
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Businesses may also
be at risk of losing all of their
assets and individuals may be at
risk of losing their homes and property.
At Kleyner Law Offices, we work
together with our individual and
business clients to help them avoid
losing everything and provide them
with an opportunity to have a fresh
start. |
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Bankruptcy provides
a means for individual debtors to
obtain a fresh economic start in
life by relieving them of their
burden of debt and generally permitting
them to retain most of their property.
Debt relief is implemented through
bankruptcy discharge and retention
of property is implemented by the
availability of federal or state
exemptions. |
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| Chapter
7 (Straight Bankruptcy) |
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Chapter 7 Bankruptcy
is the most common form of bankruptcy protection and it is available to anyone who |
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meets certain eligibility requirements. Subject to few exceptions, Chapter 7 bankruptcy discharges virtually all of debtor's unsecured debt. Unsecured debt may include credit cards, medical bills, collections, negative equity in a motor vehicle or house (many times after a repossession), and any other debts that do not have collateral attached to them. By discharging these debts in a Chapter 7 bankruptcy, our clients are able to get a fresh start and begin rebuilding their financial independence. |
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For additional information
or to determine your eligibility, please contact
our office for your free initial bankruptcy consultation. |
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