Are you tired of getting phone calls from creditors while you’re trying to eat dinner with your family? Sick of seeing your wages garnished from each week’s paycheck? Worried that your home is going to be foreclosed?
If so, it might be time to contact a bankruptcy lawyer in Topeka, KS.
Everyone experiences financial struggles. In fact, many of the most successful entrepreneurs have experienced their own financial losses before finding the financial freedom they have today. Some of them have even turned to bankruptcy as the way to sort things out and begin again. At Steffens Law, that’s precisely what we aim to help you with.
This can be a stressful time in your life, and Topeka bankruptcy attorney Chris Steffens understands. That’s why you can choose to meet with him about your bankruptcy concern from the comfort of your own home or at his Topeka office. The goal is for you to feel as stress-free as possible as we talk you through the bankruptcy process.
Bankruptcy is a legal process that looks at an individual’s assets and liabilities to determine whether any debts should be discharged or not. It gives families a chance to start over when they have experienced financial hardships, whether it’s caused by poor decision-making or an accident that left them with insurmountable debt. Typically when the course of bankruptcy is settled on, an individual will contact a bankruptcy lawyer to get the process started.
More often than not, those filing for bankruptcy have accumulated far more debt than their current income and assets can cover. In contrast, some claim bankruptcy when the money is there, but how you pay the debt needs restructuring. The latter is typically used for repayment of mortgage or back taxes.
The simple answer is because you feel like you are drowning in debt, and no one can seem to help. Declaring bankruptcy will halt creditor harassment, lawsuits, and wage garnishments. Some other, less urgent situations that could make you consider bankruptcy include:
If your debts have grown to levels that supersedes your income, having your debts discharged through bankruptcy may be the most practical choice for you.
The two most common types of bankruptcy are Chapter 7 and Chapter 13. Both will accomplish the goal of discharging your debts, but they are not the same.
Chapter 7 bankruptcy will assign a trustee to sell off (liquidate) your assets. The money earned from the sale will be used to pay your creditors a portion of what is owed. Some assets, like clothing and Social Security benefits, are exempt from liquidation.
When you file for Chapter 13 bankruptcy, you’re making a commitment to repay a portion of your debts. The part you will repay is an agreed-upon amount paid over a three to five-year period. As long as you make the arranged payments, your non-exempt assets will remain in your possession. At the end of the repayment period, your remaining debts are discharged.
While the goal of bankruptcy is to get a fresh start, unfortunately, not all debts are eligible for discharge. Those debts include:
Anything you failed to list in your bankruptcy filing will be ineligible for discharge.
Your case is unique, so the process may be slightly different for every person. But, we want you to feel at ease about what to expect when the process begins.
Your remote or in-person journey will begin with an initial consultation directly with our bankruptcy attorney himself, Mr. Chris W. Steffens. This helps us understand what we need to do to secure your financial future.
We gather the necessary information about your situation and inform you of the options available to you. This includes copies of all essential financial documents so we can prepare to file your case. Once we complete an electronic filing with the bankruptcy court, an Automatic Stay will go into effect to prevent creditors from contacting you.
As soon as you receive a formal and permanent injunction against debt collections, called a discharge, you’ll be set for your future.
As a practicing bankruptcy lawyer in Topeka, Chris W. Steffens has been a solo practitioner practicing bankruptcy law for the last 10 years. Although his practice is small, he provides the same results as firms twice his size.
Client comfort is a top priority, so you’ll have options on how you conduct your business with Mr. Steffens. Your information is safe with him, and he is available to you at any time.
He has gone through this process with many families, which has helped him develop empathy along the way. Mr. Steffens understands that hard times can fall upon anyone, and you will not be judged.
Mr. Steffens will approach your debt situation with compassion and use his experience to find the best solution for you. Contact Steffens Law in Topeka, KS, today for a free consultation and see the hope you need to start over.