Bankruptcy is not the end, it’s a new beginning
Understanding the Bankruptcy Process
Way back in 1934, the Supreme Court stated that the primary goal of our federal bankruptcy laws is to give American citizens a financial “fresh start,” leaving one “unhampered by the pressure and discouragement of preexisting debt.” Wolfe & Associates will do everything it can to help provide you with that “fresh start.”
The Delaware bankruptcy attorney process involves preparing a petition that is to be filed in federal court. The petition contains information concerning an individual’s assets, debts, creditors, monthly income, monthly expenses and other financial information. If you are filing for bankruptcy, you must include all of its creditors in the petition. You cannot pick and choose which creditors in your petition.
Rights in Bankruptcy
When an individual or family files for bankruptcy, they receive a number of legal protections that can make all the difference in paving the way for a successful, financial recovery. Of special value is the automatic stay—a court injunction that prohibits creditors from contacting or taking legal action against a debtor or debtors. Once an automatic stay has been granted, creditors are no longer entitled to freeze a person’s bank account or retain a portion of a person’s wages in the form of wage garnishments. Moreover, utility companies are prevented from disconnecting services for at least twenty days after the stay has been granted. What’s more, all foreclosure and repossession proceedings must cease for the duration of the bankruptcy process, or until a creditor successfully petitions the court for a relief from stay. One’s best option to prevent a creditor from gaining a relief from stay (which in effect allows a creditor to seize a property or to continue with a foreclosure action) is to retain shrewd, legal counsel.
Wolfe & Associates Will Fight for Your Rights
Our firm understands the nuances of the bankruptcy laws and are dedicated to crafting legal strategies that are best suited to each client’s unique, financial situation. For more information on how the firm can help you to exercise your full legal rights, please contact our office by phone at (302) 644-1426 to arrange for a free, initial consultation with a Delaware bankruptcy lawyer.