The Bankruptcy Law Center
Law Office of Don Provencio, PA
Albuquerque, NM

The Bankruptcy Law Center - 505-242-STOP (7867)

Bankruptcy Law Center Firm

Good people such as you can find themselves in bad situations. Let me and my Law Firm guide you toward your goal of becoming debt free. I have been helping consumers find debt relief through bankruptcy for many years. I will empower you with the information that you need to make a vital decision to get you a fresh start.

Contact me before utilizing monies from your retirement plan, such as your 401(k) or IRA, in order to attempt to pay down overwhelming debt. If you are looking at my website then you must be thinking about bankruptcy so contact me now for a free consultation to discuss what financial moves to take if you decide to proceed with a bankruptcy filing.

The Help You Need From The Bankruptcy Law Center Firm
The last thing you need is a lecture. I am not here to judge anyone. I'm here to help you. I received my undergraduate degree from the University of New Mexico in 1983 and I earned my Law Degree from the University of New Mexico School Of Law in 1986 and have been practicing bankruptcy law ever since. I know New Mexico Bankruptcy Law.

I am licensed to practice bankruptcy law in New Mexico and I am committed to helping you end your financial struggles and stop creditors from harassing you with aggressive collection actions, all of which will improve your quality of life. Two bankruptcy options usually available to individuals are Chapter 7 and Chapter 13:

Chapter 7 bankruptcy - In spite of what you may have heard about the 2005 changes in bankruptcy laws, Chapter 7 remains an option. You can discharge unsecured debt while keeping assets depending on their value and the total value of your exemptions, which I can explain to you after reviewing your particular situation. If your income is less than or equal to the median for households of your size in New Mexico, you will qualify for Chapter 7 relief. If your income is above the median income in New Mexico, then a means test expense calculation is done to determine if you qualify for Chapter 7 relief. In addition, you will be required to attend counseling on credit, budgeting and debt management. If you cannot qualify for Chapter 7 relief, then Chapter 13 may be right for you.

Chapter 13 bankruptcy - Debts are consolidated into a payment plan. A trustee oversees a three to five year payment plan. Upon the final payment any remaining dischargeable debt will be wiped away. Chapter 13 could be a better choice if you have problems with the IRS, are facing possible foreclosure or repossession, need to catch up on mortgage arrears, can strip the second mortgage lien from your home, or if you want to keep possessions that would be taken by a trustee in a Chapter 7.