Personal Bankruptcy

Hawaii Full-Service Consumer Bankruptcy Firm Provides Personal Bankruptcy Guidance

Honolulu Bankruptcy Lawyer Experienced in Debt Relief Issues

In the past few years, many Hawaii residents have become overwhelmed by debt and gotten behind on their payments. Federal law gives such people the right to file for personal bankruptcy, giving them the opportunity to erase most or all of their debt and move on to a debt-free financial life.

Bankruptcy law allows debtors to keep certain exempt property. In Hawaii, they can choose between the state's exemptions or the federal ones, but not both. Spouses who file for bankruptcy together are allowed to double the exemptions for property they hold together. To use Hawaii's exemptions, a debtor must have lived in the state for at least two years.

Types of Bankruptcy

There are a number of bankruptcy options, but the two types most popular with consumers are:

Chapter 7

Hawaii residents whose incomes are less than $53,751 for a single-wage earner and $84,762 for a family of four may be eligible for chapter 7 bankruptcy, which will allow them to erase most of their debts and start over after a bankruptcy trustee sells their non-exempt property to pay off creditors. Those who earn more than these limits may still be able to file for chapter 7 if they can pass a means test.

Chapter 13

Chapter 13 bankruptcy gives debtors in Hawaii an opportunity to reorganize their debt and create plans to make manageable payments over 36 to 60 months. For a debtor with stable income, the major advantage of filing for chapter 13 bankruptcy is that he will be allowed to keep non-exempt property that would otherwise be liquidated in a chapter 7 bankruptcy.

Get Help from an Experienced Bankruptcy Attorney in Hawaii

If you are considering filing for personal bankruptcy in Hawaii, give The Law Office of Jean Christensen LLLC a call or reach out to us online. Our attorneys will help you obtain debt relief in a caring, compassionate manner through individualized, personal service. Contact us online or call 808-521-1202 to schedule your free initial consultation with an experienced bankruptcy attorney at our Honolulu office today.