Top Wakefield, RI Business Bankruptcy Lawyers Near You
72 Pine Street, Providence, RI 02903
1 Richmond Square, Suite 165W, Providence, RI 02906
One Citizens Plaza, Suite 500, Providence, RI 02903
1370 Warwick Avenue, Warwick, RI 02888
50 Kennedy Plaza, 11th Floor, Providence, RI 02903
2 Dexter St, Pawtucket, RI 02860
536 Atwells Ave, Suite 1, Providence, RI 02909
One Citizens Plaza, 8th Floor, Providence, RI 02903
56 Pine Street, 4th Floor, Providence, RI 02903
10 Memorial Blvd, Providence, RI 02903
38 Upland Way, Barrington, RI 02806
One Davol Square, Suite 305, Providence, RI 02903
56 Pine Street, Suite 700, Providence, RI 02903
10 Dorrance St, Suite 700, Providence, RI 02903
55 Pine St, 5th Floor, Providence, RI 02903
One Turks Head Place, Suite 1200, Providence, RI 02903
56 Exchange Terrace, Suite 500, Providence, RI 02903
3970 Post Road, Warwick, RI 02886
469 Centerville Road, Suite 206, Warwick, RI 02886
148 West River Street, Suite 1E, Providence, RI 02904
100 Westminster Street, Suite 1500, Providence, RI 02903-2393
10 Dorrance Street, Suite 700, Providence, RI 02903
275 West Natick Road, Suite 500, Warwick, RI 02886
One Citizens Plaza, 10th Floor, Providence, RI 02903
10 Dorrance Street, Suite 700, Providence, RI 02903
Wakefield Business Bankruptcy Information
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What Is Bankruptcy?
Bankruptcy is a legal process that allows people to get out from under debts that are causing serious financial harm. Through the bankruptcy process, you may be able to get rid of debts like medical bills, credit card bills, and other unsecured debts. Factors such as your income and whether you have assets that you can sell to pay off some of the debts are taken into account when filing for bankruptcy and will determine what happens.
What Happens When I File for Bankruptcy?
When you file for bankruptcy, you will be under a federal bankruptcy court’s supervision and protection. During this time, you, your lawyer, the court, and your creditors will work on a plan for discharging your eligible debts. Collectors will also be unable to repossess property and garnish your wages or bank accounts during this time.
How Much Does It Cost To File for Bankruptcy?
There is no easy answer to this question. The ultimate cost will be a mix of court filing fees and what you owe your attorney for guiding you through the process. What you owe will depend on how complicated your case is and whether there are any prolonged disputes with creditors. Most likely, however, the debt relief that comes with bankruptcy will outweigh any fees.
How Long Does Bankruptcy Stay on Your Credit Report?
A Chapter 7 bankruptcy filing will stay on your credit report for up to 10 years, while a Chapter 13 will remain for up to seven years. A bankruptcy filing will also harm your credit score. However, if you need to file for bankruptcy, it’s likely your score is not that high anyway, and your bankruptcy will give you a chance at a fresh start and time to rebuild your credit score.