The Bankruptcy Law Center
Law Office of Don Provencio, PA
Albuquerque, NM

The Bankruptcy Law Center - 505-242-STOP (7867)

Constant worry over mounting debts can prevent you from tending to and enjoying the many other aspects of your life. Empower yourself with knowledge about your options for erasing debt; thereby, putting an immediate end to harassing calls from creditors and collection agents which will lead to getting a fresh financial start.

At The Bankruptcy Law Center I am devoted to providing personal debt relief assistance. I offer comprehensive representation throughout the Chapter 7 or Chapter 13 bankruptcy process. Trust in me to protect your exempt assets and to offer advice tailored to your specific needs.

To discuss your debt relief options during a free consultation, contact me at 505-242-STOP (7867). We can have a conversation about your options for getting a new lease on your financial future and ending unsettling calls from creditors and collection agents.

Which Bankruptcy is Right for me?
The eligibility process for bankruptcy can be extremely complex for some individuals and requires a verifiable determination of your average gross income in the immediate six months prior to the actual filing of either a Chapter 7 or 13 bankruptcy case. This is called the Means Test Calculation. Sorting through the complexities of bankruptcy and the Means Test Calculation can be difficult without the assistance of an attorney. I am devoted to providing comprehensive information vital to understanding how a Chapter 7 or Chapter 13 bankruptcy may help you. During your free initial consultation we will discuss the advantages and requirements of both forms of bankruptcy and which may better fit your needs.

Chapter 7: Also known as liquidation bankruptcy allows individuals to eliminate debt while still keeping most, if not all, of their assets. After the Chapter 7 process is complete your dischargeable debts will be eliminated offering you a fresh financial outlook and the chance to rebuild your credit over time. During our free consultation we will discuss the types of debt that are dischargeable, which debts you may wish to continue paying and which of your assets we can exempt (protect) from liquidation.

Chapter 13: Also known as a reorganization bankruptcy allows you to set up a repayment plan which is a Court enforced negotiation with your creditors to reduce or restructure principle balances and/or interest rates and is essentially a Court Ordered consolidation or reorganization payment plan of your debts. Chapter 13 generates a payment arrangement that allows your debts to be resolved over a three to five year period and, dependent on your income, you may not be required to pay your debts in full.

Both of these processes invoke the automatic stay, which stops calls from creditors and collection agencies immediately upon your initial filing. Filing halts lawsuits, judgments, garnishments and foreclosure proceedings and allows you to maintain possession of your wages and your home while the bankruptcy is in progress. Credit counseling is a required step in a successful bankruptcy plan and can help you in your path to rebuilding your credit.

As your lawyer I will help you make the right decision about a Chapter 7 or 13 bankruptcy and with my guidance you will be able to determine if either option is right for you to become debt free.