How a Bankruptcy Attorney in Hawaii Helps You
It is important to understand that bankruptcy isn't the end of your financial life. In many ways, it is a fresh start by wiping your slate clean..
You can trust our highly qualified Hawaiian Bankruptcy Attorneys from well established, well respected law firms that deal exclusively in consumer debt, so you can feel secure in knowing that we have handled many cases just like yours. A Hawaii bankruptcy lawyer can help you determine if you are eligible to file Chapter 7. He or she can also help you decide whether Chapter 7 or Chapter 13 is right for you.
We offer a free confidential legal evaluation of your financial situation and can help you take the next step to attaining the solutions you deserve.
Regain financial control now. It's never too early to talk to a Hawaii attorney. Filing bankruptcy in Hawaii, with an experienced lawyer, may be your only choice to be debt free again.
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A Clear Understanding of Filing Bankruptcy in Hawaii
Filing bankruptcy in Honolulu, or any other city in Hawaii, is something most people do not want to think about or talk about. It is something that a lot of people see as complete failure and disaster.
Even though it is something that you probably do not want to think about or consider, you may have reached a point where it is impossible to pay your debtors. If this is true, it is an option that you may need to look into.
It may help to have a clear understanding of what bankruptcy is. Bankruptcy is defined as, "a legally declared inability or impairment of ability of an individual or organization to pay its creditors." It is legal insolvency. Bankruptcy is a legal surrender of your remaining assets into the hands of your creditors.
In the United States, bankruptcy is placed under Federal jurisdiction by the United States Constitution (in Article 1, Section 8, Clause 4), which allows Congress to enact "uniform laws on the subject of bankruptcies throughout the United States." The Congress has enacted statute law governing bankruptcy, primarily in the form of the Bankruptcy Code, located at Title 11 of the United States Code. Federal law is amplified by state law in some places where Federal law fails to speak or expressly defers to state law.
Bankruptcy cases are always filed in United States Bankruptcy Court, which is an adjunct to the U.S. District Courts. However, bankruptcy cases, particularly with respect to the validity of exemptions and claims, are often dependent upon law. Because of this, it is usually not possible to generalize bankruptcy law across state lines.
For this reason, it is important for you to know the laws regarding bankruptcy of the state that you live in. If you live in Hawaii, you need to know the laws that pertain to you in filing a Hawaii bankruptcy. You need the help of a Hawaii bankruptcy lawyer who can assist you in understanding how Hawaii bankruptcy laws will affect your case.
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Chapter 7 Bankruptcy in Hawaii
The most common types of personal bankruptcy that are filed in Hawaii by individuals are Chapter 7 and Chapter 13. In chapter 7 bankruptcy, you surrender your non-exempt property to a bankruptcy trustee who then liquidates the property and distributes the proceeds to your unsecured creditors. In exchange for this, you are entitled to a discharge of some of your debt. In Chapter 13 bankruptcy, you retain possession and ownership of all of your assets, but you have to give some portion your future income to repaying your creditors. Usually, this is over a period of three to five years.
You have to decide whether to file Chapter 7 bankruptcy or Chapter 13. A bankruptcy lawyer in Hawaii can help you in making this decision if you are not sure which bankruptcy is best for you in your situation.
Bankruptcy cases are filed in the United States Bankruptcy Court. However, they are often highly dependent on state laws. Hawaii is one of thirteen states that gives you a choice between federal and state bankruptcy laws. When you file bankruptcy in Hawaii, you are allowed both federal exemption and Hawaii state exemptions.
In Hawaii bankruptcy law, filing Chapter 7 has certain advantages. Some of these are immediate protection, a complete fresh start, lack of a minimum limit on the debt, and quick discharge of your case.
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Chapter 13 Bankruptcy in Hawaii
Filing Chapter 13 in Hawaii also has some advantages. With Chapter 13 bankruptcy there is a payment plan that enables you to keep your property, there are more dischargeable debts, more payment time and it separates creditors by class.
You may not be able to file Chapter 7 in Hawaii. You have to measure your "current monthly income" against the median income of a family your size in Hawaii. Your "current monthly income" is your average income for the last six months before you file Chapter 7. You are eligible to file Chapter 7 if your income is equal or less than the median.
If your income is higher than the median for Hawaii, you may still be able to file Chapter 7. To do so, you have to pass "the means test". The purpose of this test is to see if you have enough disposable income, after subtracting certain required debt payments and allowed expenses, to repay at least a portion of your unsecured debts over a five-year repayment period. If you do, you cannot file Chapter 7. You will have to file Chapter 13 Bankruptcy.
« Back to the TopHawaii Bankruptcy Attorneys
Following is a list of bankruptcy attorneys who practice law in Hawaii. To contact one of these attorneys, please complete our free case evaluation form or call 800-859-0844
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Honolulu Law Office of Steve Cedillos 1750 Kalakaua Ave Honolulu, HI 96826 |
Map & Directions Call Now: 800-859-0844 Contact for your Free Evaluation |
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Wailuku Cain and Herren, Inc. 2141 W Vineyard St Wailuku, HI 96793 |
Map & Directions Call Now: 800-859-0844 Contact for your Free Evaluation |
Hawaii Bankruptcy Law Information:
Do you Need to File Bankruptcy in Hawaii?
If you live in Hawaii and you need to file bankruptcy, please complete the form below. A local Hawaii Bankruptcy attorney will contact you and answer your questions for free. Don't wait -- Get Help Today!
