Rasmussen & Kang Law Office can help you through your financial issues regardless of whether they are personal or for your business. Most people feel bad about having to file bankruptcy, however, the majority of people really have no choice.

Bankruptcy protection is such a fundamental right, that the drafters of the United States Constitution made sure that it was part of that document. After losing a job, getting a divorce, or having some unexpected medical problem, you may have no choice other than to file for bankruptcy.

Once you get behind on your debts, it is hard to catch up, especially when your creditors feel no compassion for your situation. In fact, your creditors, after hearing of your problems, usually do everything in their power, so that you can not pay them back. Adding insult to injury, they call you at home, at work, and even call your friends, in order to collect their debt.

Bankruptcy is the legal tool that allows you to get back on your feet and make a fresh start. It will eliminate the harassing telephone calls from creditors, get rid of unsecured debt, and usually allow you to keep the majority of your assets in the process.

If you are under financial distress, don’t hesitate to call Rasmussen & Kang Law Office for a consultation that will help relieve your stress and offer solutions to your financial problems. For more detailed information on bankruptcy, please visit our Bankruptcy FAQ’s page.

Individual Bankruptcy

The bankruptcy attorneys and paralegal at Rasmussen & Kang Law Office can help you get the debt relief you need from:

• Lawsuits
• Wage Garnishment
• Hospital Bills
• Credit Card Debt
• Home foreclosure
• Car Repossession
• Creditor harassment
• Debt Collection

 Chapter 7 is the most common for of individual bankruptcy debt relief. It is sometimes referred to as “straight” bankruptcy, or “liquidation” bankruptcy. In a typical Chapter 7 case, the debtor discharges all of his or her dischargeable debts and receives a fresh financial start. A Chapter 7 bankruptcy case typically takes four to five months to complete. In most cases, you only have to make one court appearance.

As an alternative, Chapter 13 is a debt repayment plan. In Chapter 13 bankruptcy, the debtor keeps his property and makes regular payments over a three to five-year period out of his own future income to the Chapter 13 trustee who then pays creditors. Chapter 13 provides a mechanism for individuals to prevent foreclosures and repossessions, while catching up on their house or car payments.

Whenever possible, we try to keep individuals in Chapter 7 bankruptcy because it is less expensive and debts can be discharged in a shorter period of time. Chapter 13 is better if you are behind on your mortgage and are facing foreclosure, or if you have other important assets that you might lose by filing Chapter 7 bankruptcy. Chapter 13 also offers clients a way to restructure child support and income tax payments, which cannot be discharged by filing for Chapter 7 bankruptcy.

Each case differs depending upon the facts. You should consult an attorney to get legal advice based on the specific facts in your situation.

Click here to see our Bankruptcy FAQ's.

For a initial consultation, call Rasmussen & Kang Law Office at (702) 464-6007 to make an appointment.