At Foley Freeman, our lawyers have decades of experience representing individual consumers in Idaho bankruptcy courts. For every client, we work to provide creative, yet practical, debt relief measures, making our firm a proven resource for people seeking the best way back to productivity and peace of mind.
Helping Individuals & Families Achieve Debt Relief
According to the American Bankruptcy Institute, bankruptcy filings exceeded 1 million each year from 2008 to 2013, but since then, the number of bankruptcy filings each year have declined. Given these numbers, debtors should not feel embarrassed or ashamed about considering bankruptcy. Rather, proactively seeking the advice of a bankruptcy attorney can be the first step toward financial stability.
- Achieving a fresh start with Chapter 7 bankruptcy. Chapter 7 bankruptcy, often referred to as liquidation bankruptcy, allows individuals to sell off assets in order to pay creditors. After Chapter 7 is filed, the bankruptcy court will step in and determine how debts will be repaid with the funds from liquidated assets. Once all funds are distributed, any remaining unsecured debts are generally eliminated or cancelled. Some assets are exempt from Chapter 7 liquidation, such as reasonably necessary clothing, household items, and motor vehicles.
- Maintaining stability and control with Chapter 13 bankruptcy. In many cases, people who file for Chapter 13 bankruptcy have accumulated a large amount of debt, but still have a steady income, as well as property that they do not want to lose. Rather than liquidating assets, filing for Chapter 13 allows debtors to negotiate new, more manageable payment terms with creditors, so that they may pay off debt in a specified period of time. Chapter 13 is also a good option for those with obligations that cannot be discharged under Chapter 7, such as child support, student loans, and tax debt.
At Foley Freeman, our goal is not only to help our clients make it through bankruptcy, but also to ensure the path is cleared for a positive financial future. We regularly provide advice about rebuilding credit and other post-bankruptcy issues and concerns.
Contact a Trusted Consumer Bankruptcy Attorney
While bankruptcy should never be taken lightly, it can be a new beginning for you and your family. Foley Freeman is committed to seeing our clients through the bankruptcy process, offering nonjudgmental advice and working to make bankruptcy proceedings as comprehensible and stress-free as possible. For more information about your options under consumer bankruptcy law, please contact our offices to schedule a personal consultation.