Idaho Bankruptcy Lawyers
Discuss personal bankruptcy questions with an Idaho bankruptcy attorney
Don't be left wondering "What if?" Each year, bankruptcy helps hundreds of thousands of people clear their debts. Will filing help you? You can get answers today when you speak for free with a local bankruptcy lawyer.
A local bankruptcy lawyer can answer your questions about how the laws in Idaho apply to you and how they might affect your debt and your future. Learn more about which type of personal bankruptcy - Chapter 7 or 13 - is right for you. Ask questions, get answers, and learn how each step of the bankruptcy process works.
Get a free case evaluation with an Idaho bankruptcy lawyer when you complete the free form on this page. Or call, toll free, 877-833-2410 and we can connect you right away.
Filing Bankruptcy in Idaho
In Idaho, there are two main personal bankruptcy options: Chapter 7 and Chapter 13. Which one is best for you will depend on your needs and goals. While they share many similarities and processes, the two chapters do work in different ways.
Both Chapters include the protections of the automatic stay in a successful filing. The automatic stay is a powerful court order that stops all forms of collection. It typically kicks in after you file, and may be used to:
- Stop foreclosure, even if the process has already begun
- Stop wage garnishment
- Prevent repossession
- Stop lawsuits
- End the harassing phone calls and letters from bill collectors
The automatic stay is designed to give you room to work with bankruptcy's tools to resolve your finances.
If you file Chapter 7 bankruptcy, you may have all unsecured debts clear in just a few months. These include debts related to credit cards, medical bills and payday loans. In addition, you may be able to use the Chapter 7 exemptions to protect some of your valuable property from sale or repossession.
The Chapter 7 exemptions are so strong that in almost all cases there is no property sale of any kind. Exemptions vary by state. In Idaho they include:
- Homestead: The total net value of the home, lands, and/or mobile home and improvements or sum of its value up to $100,000
- At least 75 percent of your wages
- $7,000 for an automobile
- $1,000 for jewelry
- $1,500 for work tools, books and implements
- Up to $7,500 total for household furnishings, goods, appliances, musical instruments, heirlooms and more; individual items cannot exceed $750.
Chapter 13 bankruptcy, on the other, provides even stronger protections for your home, cars and other types of property. This process takes longer, however, and you'll need some regular income to make payments to a court-appointed trustee. These payments are secured, and you won't need to worry about losing your investment if a company goes out of business.
So which type of personal bankruptcy is right for you? It depends which you need: Speed or strength. Both may be very effective.
Idaho Bankruptcy Lawyers are Here to Help
To fully understand how Chapter 7 and 13 work, speak with a local bankruptcy lawyer. They may answer your questions and show you exactly how filing may impact your life. Then you can decide what you think is best for your future.
Get started today during a free case evaluation with an Idaho bankruptcy lawyer. Simply complete the free form on this page and we'll connect you right away. Or, for immediate help, call toll free 877-833-2410. Call 24 hours a day!
Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local bankruptcy lawyer.