Bankruptcy in Connecticut, Why go it Alone? Professional Solutions for Serious Problems

Connecticut Bankruptcy:

Chapter 7- Personal Bankruptcy

Under the new bankruptcy laws. An individual will need to undergo a “means test” to determine whether he or she qualifies for Chapter 7 bankruptcy. The means test will consider a family’s monthly gross income in comparison to the state median income. If an individual is eligible for Chapter 7 bankruptcy, his or her unsecured debts may be discharged. If a person is not eligible, then filing for Chapter 13 bankruptcy may be another option.

Chapter 11- Business Bankruptcy

Businesses can run into financial difficulty for many reasons, including losing customers, excessive bad debts, increased costs and decreased profits from rising supply and employment costs, and increased debt from rising interest rates. We can help you determine your options including negotiating and restructuring, filing for business bankruptcy, or closing your business.

Chapter 13 Bankruptcy

This is a “wage earner’s plan” bankruptcy. In most situations, individuals eligible for Chapter 13 bankruptcy are homeowners with jobs who are delinquent on mortgage payments, car payments, credit card bills, and other expenses who may be seeking to save their home from foreclosure, or to prevent foreclosure from beginning. Filing for Chapter 13 bankruptcy allows you to file a plan proposing to pay your mortgage arrearage and other debts over a three to five year period. At Lenz Law Firm, LLC, we provide experienced assistance to people interested in getting a fresh start on their finances by filing Chapter 13 bankruptcy.

For Further Assistance: Please feel free to contact The Lenz Law Firm.

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