Idaho Falls Bankruptcy Law

Filing for bankruptcy can be a complicated process, and that’s why it’s imperative to hire an Idaho Falls bankruptcy law firm that has the experience to see the case through to its completion. The attorneys at Thomsen Holman Wheiler PLLC have handled many successful bankruptcy cases for clients in the Idaho Falls area and helped them get back on track with their lives.

There are two kinds of filings to be aware of, so hiring a law firm in Idaho Falls is important. The attorneys at Thomsen Holman Wheiler PLLC have the expertise to guide clients when it comes to filing either a Chapter 7 or Chapter 13 bankruptcy. Filing a Chapter 7 is also called liquidation bankruptcy, and it typically absolves the client of all their debts except non-dischargeable debts. Chapter 13 bankruptcies are known as reorganization bankruptcy in which the client pays a regular lump sum each month that’s distributed to the creditors.

Idaho laws provide exemptions for bankruptcy filers, which allows filers to keep certain property like vehicles, homesteads, personal property, wages and pensions. Getting legal counsel when it comes to how exemptions are calculated can help bankruptcy filers retain more of their property. Idaho Falls bankruptcy law can be hard to navigate without legal representation, especially when it comes to exemptions.

Before filing for a Chapter 7 bankruptcy, all applicants must pass a means test depending on their income, and those who fall below the minimum income levels are exempt from the means test. Disabled veterans are also exempt from the means test depending on when their debt was incurred. Also, if the debt is from something other than consumer debt the means test requirement is waived.

As a law firm in Idaho Falls with decades of experience, the legal team at Thomsen Holman Wheiler PLLC are ready to take on any bankruptcy case no matter how complicated it is. The attorneys are supported by an efficient administrative staff who will handle the timely filings of the necessary paperwork, gather information and be there to answer questions. They’ll be there from start to finish for a cost-effective bankruptcy filing.

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