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New Mexico Lawyers Serving New Mexico's Legal Needs Since 1997

chapter 13 bankruptcy Archives

Part 2: The choice between Chapter 7 and Chapter 13 bankruptcy

We recently began a discussion of the choice most consumers who file for bankruptcy relief have between Chapter 7 liquidation bankruptcy and Chapter 13 reorganization. Despite some economic improvement across the country, many individuals and families still struggle to stay solvent financially through no fault of their own and may wonder whether bankruptcy should be considered.

Part 1: Choosing between Chapter 7 and Chapter 13 bankruptcies

For many people, the past 10 to 20 years may have been financially challenging. Many people were impacted by the recession. For example, many experienced job loss, flat wages, loss of home, increased health insurance premiums or high deductibles, mounting medical bills, unsustainable student loan payments, high credit-card debt and more.

Legal counsel can help determine how to handle medical debt

It is common knowledge that many people are shouldering staggeringly heavy medical debt, especially as premiums and deductibles get higher and higher. We have posted blogs about medical debt and bankruptcy in the past, but unfortunately individuals and families continue to face financial strain because of high health care bills.

New Mexico bankruptcy filings: Nuts and Bolts

Many people do not know much about how to file for bankruptcy relief. Bankruptcy matters are governed by federal bankruptcy law and are heard in federal bankruptcy court. The U.S. Bankruptcy Court of the District of New Mexico is located in Albuquerque, where most hearings are held. Some matters are also heard by judges in Roswell and Las Cruces.

Watch our videos to learn of the many ways we can help you with your legal needs.

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10400 Academy Road NE
Suite 350
Albuquerque, NM 87111

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