Rhode Island Bankruptcy Lawyers
A Rhode Island bankruptcy attorney may help you get back on track
Debt can spiral out of control quickly, whether it's through deceptive credit card tricks or an unexpected job loss or medical emergency. But you don't have to live with this debt. In fact, if you're serious about getting rid of your debt then it may be time to contact a Rhode Island bankruptcy lawyer to help you get back on track.
The bankruptcy laws in Rhode Island are designed to be a powerful tool to clear debt. They may also help you keep your home, cars and other important property, because the state's Chapter 7 exemptions are some of the strongest in the country.
These laws aren't out there for special cases. They're for anyone who needs real debt relief, and is ready to retake control of their life.
Find out how bankruptcy may be able to help you during a free case evaluation with a Rhode Island bankruptcy lawyer. Complete the free form on this page or call, toll free, 877-833-2410 and we'll connect you right away.
Bankruptcy Chapters in Rhode Island
The laws in Rhode Island provide several bankruptcy options so you may find a solution that truly fits your needs. The main options for personal bankruptcy are Chapter 7 and Chapter 13.
Rhode Island has some of the strongest Chapter 7 bankruptcy laws in the country. Theses laws are designed to eliminate your credit card in only a few months, while allowing you to keep your home and car. And with Chapter 7, you won't need worry about paying down your debt or saving up for a settlement. Your debt is fully resolved in your filing without either of these.
In addition to credit card debt, Chapter 7 may also be used to eliminate medical bills, utility bills and personal loans, including payday loans. Then, thanks to Rhode Island's Chapter 7 exemptions, you may be fully protected from a forced sale of your property.
Exemptions are the reason there is almost never a forced sale in a Chapter 7 case. They outline the types and amounts of property that are fully protected and include:
- $300,000 for your home
- 75 percent of your wages
- $12,000 for total value of all motor vehicles owned
- 100 percent of clothing
- $1,500 for tools used in profession and 100 percent of professional books
If you're also struggling to stay current on your mortgage or a car payment, then Chapter 13 bankruptcy may be a better fit. Chapter 13 offers the strongest protections, and will also allow you to resolve back debt from your home mortgage and car loans, in addition to other types of debt.
To file Chapter 13 you will need some regular income because there is a payment plan involved, and the process take 3-5 years. However, during this time you'll likely be protected by the automatic stay, which may give you the space you need by stopping foreclosure, repossession, wage garnishment, lawsuits and all collection efforts.
Contact a Local Rhode Island Bankruptcy Attorney
Take action against your debt today. For many people, the first step is getting all the facts about how bankruptcy works. During a free case evaluation with your Rhode Island bankruptcy lawyer, you can get more information about how the laws will apply to your case.
A bankruptcy lawyer may also answer any other questions you have about the process. While you may benefit by taking action soon, don't rush into any decision before you get all your questions answered.
That's why so many people take advantage of a free case evaluation with a nearby Rhode Island bankruptcy attorney. To get yours, complete the form on this page or call, toll free, 877-833-2410, and we'll connect you right away.