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Delaware Bankruptcy Lawyers

Let a Delaware Attorney Assess Your Bankruptcy Needs

Delaware bankruptcy laws may provide the relief you need if you are overwhelmed by debts and struggling to make ends meet.

Don't spend another day worrying about your debt. Talk to a Delaware bankruptcy attorney about how you may be able to wipe out debts with Chapter 7 bankruptcy, or create an affordable, structured repayment plan with Chapter 13 bankruptcy.

Take the next step today. Simply fill out the free bankruptcy review form below or call 877-833-2410 to connect with a lawyer in your area today.

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Delaware Bankruptcy Options

U.S. bankruptcy laws give individuals struggling with debt two main options to move forward: Chapter 7 and Chapter 13 bankruptcy.

Chapter 7 bankruptcy eliminates credit card debt, medical debt, personal loans and other forms of unsecured debt via the bankruptcy discharge.

Chapter 7 uses a process called liquidation, in which the bankruptcy court can take certain property to repay unsecured creditors. Luckily, Delaware bankruptcy laws allow some property to be protected. These bankruptcy exemptions include:

  • Up to $100,000 in value of principal residence; up to $125,000 is debtor or spouse is 65 years or older or disabled.
  • 85% of earned but unpaid wages.
  • Up to $15,000 for vehicle and tools needed for work.
  • Up to $25,000 in personal property (other than residence).
  • 100% of clothing, family photos and books.

The power of Delaware bankruptcy exemptions allow qualifying Chapter 7 filers to wipe out debts without having to surrender their most valuable assets.

Qualifying for Chapter 7 bankruptcy involves determining eligibility through the Chapter 7 means test, which compares your income to the median income for your family size in Delaware. To learn more about the means test and Chapter 7 exemptions, speak with a bankruptcy attorney in your area.

Chapter 13 bankruptcy, also known as debt reorganization, creates an affordable monthly payment plan for those with a regular income.

Under the Chapter 13 plan, you'll make regular payments to the bankruptcy trustee for a period of three to five years. At the end of the plan, any unpaid debts declared in the filing will be wiped out by the bankruptcy court.

The Chapter 13 plan typically favors secured creditors, like mortgage holders and auto loan lenders. Credit card debts and other unsecured debts may be significantly reduced or eliminated from your Chapter 13 bankruptcy plan.

Get Bankruptcy Help with a Delaware Attorney

Now that you know your options under U.S. bankruptcy law, let a Delaware bankruptcy lawyer guide you through the process. Personal bankruptcy procedures can be confusing and intimidating, but you don't have to face them alone.

Fill out the free bankruptcy review form today to speak with a bankruptcy lawyer near you.

Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local bankruptcy lawyer.


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