Nampa and Boise Bankruptcy Attorney Guides Debtors

Debt mitigation solutions for Idaho residents

Gulstrom, Henson & Roark, P.C. has provided debt-relief solutions to Nampa and Boise clients since 2001. Our law firm focuses on helping you take control of once-manageable debt that has become overwhelming. After a complete assessment of your financial information, our attorneys advise you about your debt-relief options, which may involve creditor negotiations, Chapter 7 bankruptcy or Chapter 13 bankruptcy.

Advantages of bankruptcy

Our attorneys may advise you to file for bankruptcy if you face foreclosure, eviction, automobile repossession or wage garnishment, or if bankruptcy otherwise provides the best remedy for your financial problems. Upon filing your bankruptcy petition, your creditors are prohibited from any further collection attempts, so you no longer have to endure annoying phone calls and threatening letters.

Consumer bankruptcy options

The Bankruptcy Code contains several options for filing for bankruptcy. Depending on your individual circumstances, we may advise you to file under:

• Chapter 7 — If you satisfy the means test requirement, you may benefit from Chapter 7 bankruptcy protection, which allows discharge of your debts.
• Chapter 13 — Chapter 13 bankruptcy involves agreeing to a repayment plan that consolidates your debts, which may save your home from foreclosure and your other assets from repossession.

The bankruptcy process

To initiate the bankruptcy process, we file an extensive petition with the U.S. Bankruptcy Court District of Idaho along with several documents listing your assets, debts, income and expenses. Then, a trustee will ask you questions at a 341 meeting for which our lawyers fully prepare you. At this point, the processes differ for each type of bankruptcy in the following ways:

• For a Chapter 7, the trustee makes a decision regarding liquidation of assets. Our lawyer is often successful at arguing for exemption of most property. Your debts are typically discharged a few months after we file your petition.

• For a Chapter 13, we submit a repayment plan to the trustee for approval. You pay your consolidated debts over a set period of time — usually three or five years — at which point you are released from bankruptcy.

To discuss your bankruptcy options, consult with our Boise, Idaho law firm

For more information about debt relief and bankruptcy, consult with the dedicated attorneys at Gulstrom, Henson & Roark, P.C.

To schedule your free consultation, contact us online or call 208-546-9933.