Bankruptcy

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.  Our bankruptcy attorneys will assist you in a non judgmental and experienced way as you navigate what is often a complex and stressful debt relief step in your life.

Chapter 7

Our bankruptcy and debt attorney at Olsen Legal Group can assist you in navigating a Chapter 7 bankruptcy.  Chapter 7 bankruptcy stops collection activity and wipes out unsecured debt. It stops foreclosure and repossessions, and it allows you to return cars and houses without owing a deficiency balance.

Some debts are not discharged in a Chapter 7 bankruptcy such as child support, alimony, accidents where drugs or alcohol were involved, criminal court debt, and most student loans and taxes. If you have a large number of these type of debts (in dollars), you may want to file a Chapter 13 Bankruptcy.  Also, if you are behind on your mortgage, are facing foreclosure but want to try to keep your house you may want to consider a Chapter 13 Bankruptcy as well.

Chapter 7 is designed to wipe out debt and give you a fresh financial start. It is important to list everyone you owe in a Chapter 7. If a debt is not listed, it is not discharged. You can discharge check cashing debt and payday loans, credit card debt, medical debt, court judgments for car deficiencies and other debts in a Chapter 7.  But you must list the name and address of each one you owe and the amount you owe them in your bankruptcy forms. However, some loans taken out within a few months before filing may not be discharged.

Chapter 7 stops garnishments, bank account levy, check cashing loans, repossession and collection calls. It gives you relief from the phone calls and letters from your creditors. It can relieve the pressure of juggling payday loans, car payments, and credit card bills.

Contact us today to see if Chapter 7 is the right choice for you.

Chapter 13

Our bankruptcy and debt attorney at Olsen Legal Group can assist you in navigating the complexity of a Chapter 13 bankruptcy. Chapter 13 will stop foreclosures and allow past due mortgage payments to be caught up over the life of the Chapter 13 plan (3 – 5 years).  Chapter 13 should be filed before the date of the foreclosure to ensure proper notice to the mortgage company. Chapter 13 will also stop the IRS from garnishing your wages or selling your property. It allows you to make repayment of the tax debt while stopping the penalties and interest from running. (The Chapter 13 is NOT a dispute of the amount owed.)

Chapter 13 protects necessary property such as your house or your car. A repayment plan allows those with any regular source of income to pay back debt over a period of 3 to 5 years. This results in a drastically lower payment on secured debts, thus relieving the "cash crunch" for most people.

Federal income taxes may be paid back with no interest.  The Chapter 13 Trustee facilitates payment to the creditors. Their job is to ensure you pay your unsecured creditors as much as you can, as fast as you can.

Contact us today to see if Chapter 13 is the right choice for you.