Chapter 7 Bankruptcy
The emotional pain that comes with any divorce in Stamford, CT, can be magnified when it comes to settling debts that have been acquired during the course of a marriage. Sifting through what can be a complicated endeavor is something that I have a great deal of experience in handling.
Simply determining whether or not you’re eligible to file for Chapter 7 bankruptcy is the first step I’ll take. Due to a 2005 change in the law, specific requirements are in place for virtually all individuals who are divorcing. That means that if you aren’t able to meet those qualifications, the case will then become a Chapter 13 bankruptcy.
One of the key components during this process of Chapter 7 Bankruptcy is figuring out what property in the Stamford, CT, area and beyond is considered exempt from liquidation to pay off outstanding debts. These items can include real estate, vehicles, specific personal property and any other items that can’t be placed in a certain category.
My main goal in these situations is to vigorously fight for every all property my clients are entitled to during these proceedings. I make a point to inform them of items that aren’t exempt from this process, which can involve things like bank accounts, investments, heirlooms and collections acquired during the course of a marriage.