What Is Bankruptcy?

Bankruptcy is the process, protected by the United States Constitution, that allows people or organizations to divest themselves of insurmountable and overwhelming debt.

In the words of the US Code, the process is designed to give, “the honest but unfortunate debtor… a new opportunity in life and a clear field for future effort.” This is accomplished by discharging certain debts, depending on circumstance, and in some cases assisting the debtor in the reorganization of businesses and repayment of non-dischargeable debts.

The particulars of each case vary with the type of bankruptcy being filed and from case to case. This article is designed to give a clear overview of the bankruptcy process, but filing should be done under the advisement of an experienced lawyer.

We Can Help You!

Over the last 20 years we’ve helped thousands of individuals and small businesses file for bankruptcy protection to overcome hard financial times.

We can stop:

  • Harassing calls
  • Lawsuits
  • Foreclosures
  • Garnishments
  • Repossessions

If you’re not sure but want to learn more about your options call us today for your free consultation.

Call 870-972-1150

Rebuild Your Credit Score

We at Crawley Law Firm not only want to help you get out of debt by offering a free consultation to see if bankruptcy is an option for you, but also want to help you recover from it.

Filing bankruptcy is an opportunity to start fresh financially and we offer 14-week credit rebuilding program called “7 Steps to a 720.”

This program teaches you how to improve your credit rating over a 6-12 month period of time.

When your Chapter 7 bankruptcy case is filed, a trustee is appointed by the court.  This trustee – who may or may not be a lawyer – is responsible for reviewing your bankruptcy papers to be sure that you have not hidden anything, did not lie, and made all required disclosures.

You will be called for a meeting of creditors within 4-6 weeks of when the case is filed.  This is a very informal meeting with the trustee, and takes about 10-15 minutes.  You will be asked a series of questions about your case, and the trustee will review the documents that have been filed with the bankruptcy court.

There are a ton of misunderstandings about bankruptcy. You owe it to yourself to get the truth. Call us today at 870-972-1150 to start the process. Set up a FREE, no-obligation consultation with an experienced Arkansas bankruptcy lawyer.

We are a Federally Designated Debt Relief Agency, and help people file for Bankruptcy protection.

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