We counsel clients concerning their personal and business financial situations.  In our current economy, it is not unusual for clients to suffer financial distress.  Frequently, clients have financial arrangements that more complex than they are able to handle.  Sometimes they have made bad investments, have been defrauded, are over leveraged or have suffered upheavals in their personal lives—the loss of a job, the loss of a spouse through death or divorce, the loss of income due to a chronic medical condition, etc.  We examine our clients’ total financial picture and suggest restructurings, if possible, that will allow them to keep their assets and meet their current obligations.  For years we have represented creditors in the bankruptcy court.
          Now, with the emergence of sub-prime mortgages, excessive consumer debt and declining real estate values, we offer debtor bankruptcy representation.  Sadly, it is sometimes better to obtain a fresh start through bankruptcy than to continue being an indentured servant to credit card companies, judgment lienors and mortgage holders.  In addition, a bankruptcy filing can forestall a foreclosure, but usually only for a few months.
            We charge a flat fee of $1,500 for Chapter 7 bankruptcies.  The cost of our initial consultation is included in the flat fee.  In a Chapter 7, the client is discharged from most debts, including deficiencies from foreclosures, judgment liens, and credit card debt and is able to obtain live without the burden of crushing debt.  The availability of Chapter 7 relief, however, was constricted by Congress under the Bankruptcy Reform Act of 2005 (the “BRA”).  There is a presumption against Chapter 7 relief if the client’s net income exceeds the median income and expenses in the locality in which the client resides.  To assist our clients in determining whether they qualify for Chapter 7 relief, the clients enter their information at a secured website known as StopMyBills.com, and we then input this information into our computer systems to make the necessary determinations under the BRA.

         If a client does not qualify for Chapter 7 relief or does not desire to file for that kind of relief, we also offer Chapter 13 representation.  Under Chapter 13, the client may propose a plan to pay his/her creditors over a 5-year period using income generated after the payment of living expenses.  While the creditors cannot propose their own plan, they can object to the plan being proposed by the debtor.  For a flat fee of $3,500, we will represent the debtor until the first amended plan.  Once the debtor’s plan is confirmed and completely performed, he/she will receive a discharge of all creditors who received notice of the plan and had an opportunity to object.
            If you would like to counsel with us concerning your personal or business financial situation, please feel free to contact Martin Conway or his staff, Patti Taylor or Brian Ritter.