Bankruptcy Overview

Financial problems place a great deal of stress on families and households. Often the only solution a person can find is to file for personal bankruptcy. At Ferguson & Ferguson we understand your anxiety about your financial situation and offer you solutions. Our policy is to provide personal, one-on-one service, throughout the entire process. Your calls and questions are our primary concern and your comfort during the process is our mission.

Ferguson & Ferguson’s experienced bankruptcy attorneys will help protect clients’ rights and property. We can keep creditors at bay and help clients keep their home, vehicles and other property. We are committed to providing clients with immediate debt relief and with assistance in starting over.

Chapter 7 and Chapter 13 are the most common consumer bankruptcy types. Chapter 7 involves liquidation and distribution of assets to creditors. Chapter 13 involves rehabilitation and government protection.

On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act. These new laws, which will make it much harder for people seeking relief to wipe out their debts, will take effect October 17, 2005. Many of the previous cases which were eligible for Chapter 7 relief will now have to be filed as Chapter 13 bankruptcies. This will require debtors to pay back a portion of their debts through a Chapter 13 plan. Additionally debtor’s will be required to complete a course in financial management prior to getting a Chapter 7 discharge.

Our attorneys keep abreast of ever-changing federal bankruptcy laws and provide our clients with the best, most current advice. Call Ferguson & Ferguson. We can help with your debt.