Chapter 7
Todd Frankenthal files many Chapter 7 cases for individuals. Individuals that qualify for Chapter 7 can cancel many types of pre-bankruptcy debt and get a fresh start. This includes credit card debt, hospital & medical debt, unsecured bank loans, deficiencies on vehicle and mortgage loans, and personal loans. The filing of Chapter 7 puts a stop to all collection activity against you, including harassing telephone calls, demand letters, the filing of lawsuits, and the continuation of lawsuits. Significantly, you may be able to keep most or all of your assets, while cancelling the debt that has weighed you down for so long! Certain types of debt are more difficult to cancel in bankruptcy. This includes unpaid income taxes, and student loan debt. We can advise you as to when and how this type of debt can be cancelled in bankruptcy.
Chapter 13
We also file Chapter 13 bankruptcies for individuals. Many Chapter 13 filings are for clients trying to save their homes from foreclosure. In Chapter 13 you are allowed up to 5 years to bring your mortgage current, under the protection of the bankruptcy court. In addition, in some cases we can actually cancel your home equity second mortgage, and reduce the balance owed on your car. We also help bankruptcy debtors modify their mortgages under the protection of the bankruptcy court in the Mortgage Modification Mediation program (MMM). In addition to using Chapter 13 to save homes we can help you pay off outstanding income tax debt and credit card debt over the course of 3-5 years.
