Bankruptcy / Debt

If you are drowning with debt and feel like you will never again have your head above water, a Coplay bankruptcy/debt attorney may be able to help. Attorney Michael McCrystal will review your personal financial circumstances and help you decide on a plan of action.

Reduce and settle your debt with negotiations

Attorney Michael McCrystal, a Coplay bankruptcy/debt attorney will review all of your unsecured debts such as the amount owing on your credit cards, medical bills and any personal loans. He will negotiate directly with each of your creditors to try and reduce the amount of each debt and establish a repayment plan that is workable.

Chapter 7 bankruptcy may be your best solution

No matter how much you may want to avoid it, filing for Chapter 7 bankruptcy may be in your best interest. If your income allows it under your state’s means test, and your debt is the kind that will be discharged in bankruptcy, this may be the path for you to follow. Debts that will be discharged, meaning you will no longer owe them at all, at the end of the Chapter7 process include:

  • Medical bills.
  • Credit card debt.
  • Personal loans.
  • Past due rent and utility bills.
  • Deficiency balances from repossessions.
  • Most all unsecured debt.

You must be cautious because there are categories of debt you will still be required to pay at the end of the process. This includes debts such as back alimony and child support, student loans unless you can prove it would be an extreme hardship for you to pay them back as well as any fines or penalties that were imposed by a court because you broke the law.

Chapter 13 bankruptcy may be an option

In a Chapter 13 bankruptcy, your debt is restructured. You present the court with a plan of how you can repay most of your debt. Repayment plans generally are for three to five years. If the court approves your plan, you pay a lump sum to the trustee who then pays your individual creditors. If you comply with the terms of the plan, at the end of the time period, remaining debts are discharged.

The McCrystal Law Office will help

At the McCrystal Law Office, we treat each individual who comes to us with the respect they deserve. We work carefully with you to help you decide the best approach based on your personal circumstances.

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