Is Bankruptcy The Debt Relief You Need In Arkansas?

The poor economy, lost jobs, reduced wages and skyrocketing medical costs have driven many to use credit cards to make ends meet. As the debt piles up and bills keep coming in, many feel as if they are buried under a mountain of debt with no means of escape.

At Hatfield Harris, PLLC, we help people find a way out.

Located in Rogers, our lawyers help clients throughout Northwest Arkansas eliminate their debts and start fresh through Chapter 7 and Chapter 13 bankruptcies.

Rogers bankruptcy attorney Chris Harris has been helping individuals file for bankruptcy and wipe their slates clean for more than 20 years. Under his guidance, you can eliminate your debts, protect your property and get the fresh start you deserve.

Get A Fresh Start

Filing for bankruptcy does not mean you aren’t a hard worker or that you are giving up. Instead, bankruptcy provides individuals the opportunity to regain control of their finances, eliminate their debts and start fresh.

At Hatfield Harris, PLLC, we help clients choose the debt relief path that is best for them. Our attorneys thoroughly evaluate our clients’ debts and assets, and advise them on the advantages and disadvantages of a Chapter 7 filing or Chapter 13 bankruptcy.

Credit card and medical debts are the No. 1 reason people file for bankruptcy. Through bankruptcy, you can eliminate these debts.

Stop Creditor Harassment Over Debts

The constant creditor phone calls and letters threatening wage garnishments, repossessions and lawsuits can often cause more stress than the underlying debt itself.

At Hatfield Harris, PLLC, we stop creditor harassment. The moment you file for bankruptcy, an automatic stay arises. This stay prevents creditors from contacting you in any way during the pendency of your bankruptcy proceeding.

Common Reasons People In Rogers File For Bankruptcy

Every day, people throughout Rogers of all income levels can find themselves trapped in debt due to various reasons, including:

• Job loss: A layoff or other unexpected job loss can turn your life upside down. The sudden loss of income can make it impossible to keep up with your mortgage, car loan and other debts while still feeding and clothing your children.
• Major medical expenses: Nobody can plan for a medical emergency like cancer, a heart attack or a stroke. Lifesaving medical care like surgery, chemotherapy or a long hospital stay can cost hundreds of thousands of dollars, more than most families can afford.
• Other unexpected expenses: Besides losing your job or suffering a medical event, any major life event can greatly impact your household finances. Examples include divorce, an increase in your mortgage’s interest rate and credit card debt from a large, unavoidable purchase.

Save Your Property, Eliminate Your Debts

Many people sell their properties and cash in their retirement accounts in an attempt to pay bills they can’t afford. Unfortunately, many still find themselves in a position where filing for bankruptcy is necessary and are left without their retirement nest eggs.

Federal bankruptcy laws shield certain assets and retirement accounts from creditors. By filing for bankruptcy, you can wipe out your debts while keeping many of your assets, including your retirement accounts.

Bankruptcy FAQs

At Hatfield Harris, PLLC, we help people struggling with overwhelming debt start their journey through the bankruptcy process. As experienced attorneys, we understand the complexity of bankruptcy. We can help you get the necessary answers to get your financial situation back on track. Here is what you should know:

How can bankruptcy help me eliminate my debts?

Bankruptcy is a process that allows you to resolve overwhelming debts such as medical bills, credit card debt, utility bills and personal loans. This process can be especially beneficial for families facing financial difficulties after a job loss, medical conditions or unexpected expenses. You can talk to an attorney and learn more about how bankruptcy can help you.

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Chapter 7 is designed to give debtors a “fresh start” by discharging most of their unsecured debts such as medical bills and credit cards. To qualify, you must pass a means test, which compares your countable income to the state’s median income. If you do qualify, the process typically takes a few months. However, you may not be able to retain all of your assets. Nonexempt assets can be liquidated as part of the process.

Chapter 13 is a debt reorganization plan that allows you to create a court-supervised repayment plan to pay back your creditors over three to five years. At the end of that time, most of your remaining unsecured debts will be discharged. In contrast to Chapter 7, Chapter 13 may allow you to retain assets you might otherwise have to give up.

One of our bankruptcy attorneys can work with you to explore your bankruptcy options.

How does filing for bankruptcy stop creditor harassment?

You may have creditors calling or sending you letters threatening wage garnishment, repossession or lawsuits to collect on debts. By filing for bankruptcy, you are given certain protections from creditors. Once bankruptcy is filed, creditors cannot contact you to collect the debts.

Can filing for bankruptcy stop wage garnishments?

Yes. Much like the protection against debt collectors, wage garnishment can be stopped after you file for bankruptcy. Talk to an attorney to learn how.

Let Us Explain How Bankruptcy Can Help

Contact Hatfield Harris, PLLC, at 479-250-1962 to discuss your options for debt relief. We offer free consultations and flat fees.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.