Twin Falls Bankruptcy Lawyer

The bankruptcy process allows debtors to wipe out certain qualifying debts in an orderly fashion while, at the same time, protecting them from collection action. At Johnson May, our founding lawyer holds a juris doctor and undergraduate degree, and is admitted to the Bar of the United States Supreme Court, establishing our authority and expertise in bankruptcy law. We have helped both debtors and creditors in bankruptcy proceedings.

Our long-standing practice in bankruptcy law ensures that we deliver high-quality legal services and positive outcomes for people facing financial challenges. The law is complicated, and not every Idaho lawyer is prepared to offer the type of quality representation that we can. If you are in Chapter 7, 11, 12, or 13 proceedings, please call us.

We invite people to schedule consultations to discuss their cases, so you can make an informed decision about your financial future. This is an important time. Your rights are at stake, so ensure you have the legal help you need with experienced Twin Falls bankruptcy lawyers for your bankruptcy cases.

Bankruptcy in Idaho

Bankruptcy is a legal process designed to help individuals and businesses in Idaho find relief from overwhelming debt and make a fresh financial start. Governed by the bankruptcy code, this process can be complex and intimidating, especially for those unfamiliar with the legal system. That’s why working with experienced bankruptcy lawyers is so important when deciding whether to file for bankruptcy.

At our law firm, we strive to provide friendly, professional legal services to both individuals and businesses, guiding them through every step of the bankruptcy process. Whether you are considering Chapter 7 for a quick discharge of debts or Chapter 13 for a structured repayment plan, our team is here to help you understand your options and find the solutions that best fit your needs. The bankruptcy court in Idaho plays a crucial role in overseeing cases and ensuring that debtors receive the relief they are entitled to under the law. If you are facing financial challenges, our firm is ready to provide the support and legal counsel you need to move forward with confidence.

Bankruptcy Options

The bankruptcy code creates different bankruptcies with a bankruptcy petition, which vary in terms of duration and whether you can continue to operate a business or not:

• Chapter 7. This is a “liquidation” bankruptcy used by both individuals and businesses. Non-exempt assets are sold, and the proceeds are distributed to creditors. Remaining debts are typically discharged. A liquidation bankruptcy takes only a few months to complete and is the fastest option available. However, individuals typically need to pass a means test, which looks at their income, before they can qualify.
• Chapter 11. This is a popular bankruptcy for businesses. A debtor can continue to operate a business while working out their debts and might even obtain new financing. As part of the process, there may be a change in account balances or interest rates on repayment plans to help manage debt.
• Chapter 12. Family farmers and family fishermen can set up a payment plan for 3-5 years to address their debts. At the end, certain debts are discharged. A Chapter 12 bankruptcy allows a debtor to continue operating their business.
• Chapter 13. This is like a Chapter 12 but for individuals. You make regular payments to creditors for 3-5 years, and at the end, the unpaid debts are eliminated. During bankruptcy, a court order may be issued to help reorganize debt, get current on payments, or prevent foreclosure.

Many of our clients don’t know which bankruptcy to file, which is one reason to work closely with consumer bankruptcy attorneys to help with the bankruptcy paperwork. There are so many considerations, including whether you hope to keep a business up and running or are ready to pull the plug. You are not required to pay until your bankruptcy case has been formally filed with the court. Give us a call so we can delve into greater detail in a meeting regarding your financial situation.

How Do I Find Your Office?

Our Bankruptcy Services for Debtors

Johnson May has helped hundreds of debtors in bankruptcy by providing assistance to navigate debt relief options effectively. We will review which option is best for you in an initial meeting and check whether you qualify. Some bankruptcies have income requirements, as well as debt thresholds. Clients’ questions are always answered promptly and thoroughly during this process.

We can also complete your petition and required schedules, ensuring information is reported accurately. You cannot submit false or misleading information, which can slow down a bankruptcy or possibly result in fraud allegations.

We also can represent you in court proceedings or the Meeting of Creditors. These are required parts of any bankruptcy, and some situations require professional legal expertise to ensure the best outcome.

Lastly, our firm will handle all adversarial proceedings and contested matters within bankruptcy. We can challenge a creditor’s claim and defend the dischargeability of debt, or we might defend your use of certain exemptions. Clients have worked with us to successfully resolve their financial challenges, and you can read testimonials about how we have worked with individuals to achieve positive outcomes.

Johnson May offers the expertise of the largest Idaho firms with the customized service of a boutique law firm. Call us to find out more.

Business and Bankruptcy

Businesses in Idaho facing financial difficulties can also seek bankruptcy relief, but the process is often more complex and requires a strategic approach. Our law firm has extensive experience working with businesses of all sizes, providing tailored solutions that address each company’s unique needs and goals.

We understand that every business is different, and we take the time to develop a plan that helps you restructure debt, protect assets, and position your business for a stronger future. Our team of professionals is committed to delivering a great experience for our business clients, offering flexible payment plans and a free consultation to make the first step as accessible as possible. If your business is considering bankruptcy relief, let us provide the guidance and support you need to navigate this challenging time and emerge with a renewed sense of stability and opportunity.

Non-Bankruptcy Options and Debt Relief

Filing for bankruptcy is not always the best option for a debtor. Instead, you might seek alternatives to file bankruptcy, including:

• Debt management. You might renegotiate certain terms of your debt, which will allow you to continue to make payments and avoid default with debt collectors. For example, you might extend the duration of a loan, which lowers monthly payments, or seek a reduction in the interest rate. These options can also help protect your property from repossession or loss.
• Debt settlement. You might negotiate a settlement of your debt and credit card debt. Typically, you agree to pay a lump sum that is less than what is owed. Some creditors have an incentive to accept a lump sum because they might otherwise lose everything if you file for bankruptcy protection.
• Litigation defense. If you are sued, we can defend you from the creditor’s claim. We might argue that the debt is time-barred because the statute of limitations has expired. If a collection agency purchased the debt, we might argue that there is insufficient documentation.

Contact Johnson May today for help with bankruptcy, dealing with legal documents. Our firm has ample experience with non-bankruptcy options, which might work for you or your business to fresh financial start.

Our Services to Creditors in a Bankruptcy Case

Johnson May also appreciates the needs of creditors who suddenly find themselves in a bankruptcy. There are real risks facing creditors, including having a debt discharged or losing access to collateral because of the automatic stay.

Let us craft solutions targeted to your needs. For example, we can challenge a discharge or bring a creditor claim within bankruptcy. We can ask the bankruptcy judge to lift the automatic stay in certain cases so you can foreclose on collateral.

In a Chapter 11, creditors have greater rights than in other bankruptcies. Because the debtor intends to keep the business going, you could be part of a creditor committee which reviews a proposal to pay back debt. Creditors can object to any plan within bankruptcy, and we can serve as your legal counsel.

Johnson May also provides creditor services outside of bankruptcy:

• Deficiency claims
• Foreclosure actions
• Lease enforcement
• Fraud claims
• Injunctive relief

The Role of the Bankruptcy Court

The bankruptcy court is central to the bankruptcy process in Idaho, overseeing the filing and administration of all bankruptcy cases. The court ensures that both debtors and creditors follow the bankruptcy code, and that everyone involved receives the relief and protections they are entitled to under the law.

Our law firm has a proven track record of working with the bankruptcy court in Idaho, assisting clients with everything from filing petitions to attending hearings and managing the intricacies of the legal process. We are dedicated to making the bankruptcy process as smooth and stress-free as possible, providing professional and friendly legal services every step of the way. Whether you are an individual or a business, our team is prepared to assist you in protecting your rights and achieving the best possible outcome in your bankruptcy case.

Twin Falls and Local Bankruptcy Law

Navigating bankruptcy law in Twin Falls, Idaho, can be especially challenging due to local regulations and procedures that add another layer of complexity. Our law firm is deeply rooted in the Twin Falls community, and we strive to provide expert knowledge and guidance tailored to the unique needs of our local clients.

We take the time to understand your individual situation, offering personalized legal services that help you explore your options and make informed decisions about your financial future. Our commitment goes beyond just handling your case—we aim to build lasting relationships, offering ongoing support and advice throughout the bankruptcy process and beyond. If you’re in Twin Falls and need help understanding bankruptcy law, our firm is here to provide the knowledge, care, and solutions you deserve.

Why Should You Hire Johnson May to Represent Me in Bankruptcy Court?

Anyone searching for a bankruptcy attorney should hire someone with the right experience. A seasoned attorney does more than advocate for you in court before the bankruptcy judge. We represent your interests as soon as we accept a case.

Call Johnson May. Bankruptcy actions are complicated, and it’s easy to make a mistake that gets you off track. Our bankruptcy lawyer knows how to protect your rights using the bankruptcy code with the completed paperwork.

In the initial meeting, we can:

• Discuss your current financial problems and review debts;
• Review your goals and what would be an ideal solution to your needs;
• Discuss possible options within bankruptcy, as well as non-bankruptcy options;
• Answer your questions.

There is no reason to delay. Waiting only makes financial problems worse when you could address your debt levels right now with a bankruptcy lawyer.

Bankruptcy Law FAQs

What is the fundamental difference between Chapter 7 and Chapter 13 bankruptcy, and which is right for me?

The primary difference lies in the process and the type of financial relief. Chapter 7 is “liquidation” bankruptcy, designed for individuals with limited income to rapidly discharge (eliminate) most unsecured debts like credit cards and medical bills, often completing within three to five months. Chapter 13 is “reorganization” bankruptcy, ideal for debtors with regular income who want to catch up on past-due secured debts, such as mortgage arrears, through a structured repayment plan lasting three to five years. Your attorney will analyze your income, assets, and overall financial goals to determine which chapter offers the best path to your financial fresh start.

What is the Bankruptcy Means Test, and how does it affect my eligibility for Chapter 7 in Idaho?

The Means Test is a required federal calculation designed to determine if your income is low enough to qualify for Chapter 7. It first compares your average household income over the last six months to the median income for a household of your size in Idaho. If your income is below the Idaho median, you automatically qualify. If it is above, the test requires a complex calculation of necessary expenses and debt payments to assess your disposable income. An experienced attorney is crucial for accurately performing this calculation, as proper expense deductions can mean the difference between qualifying for Chapter 7 discharge or being required to file Chapter 13.

Will I lose my home or car if I file for bankruptcy in Twin Falls, Idaho?

Losing property is a major fear, but Idaho law provides powerful exemption statutes specifically designed to protect your essential assets. Idaho residents must use the state’s exemptions, which include a generous Homestead Exemption (currently up to $175,000 in equity) to protect their primary residence, as well as exemptions for vehicles, household goods, and retirement accounts. If you are current on secured loans, you can typically keep the property. Our firm’s role is to meticulously apply every Idaho exemption available to maximize the protection of your equity and ensure you keep what you need to rebuild your life.

What is the “Automatic Stay,” and how soon does it stop creditor harassment?

The Automatic Stay is one of the most immediate and powerful forms of relief in bankruptcy. As soon as your attorney files your petition with the court, the Automatic Stay goes into effect instantly and legally requires nearly all creditors to immediately cease all collection efforts. This includes stopping foreclosure proceedings, vehicle repossessions, wage garnishments, lawsuits, and collection calls. This immediate legal injunction provides you with the peace of mind and necessary time to reorganize your finances without the stress and pressure of constant creditor harassment.

Speak with a Twin Falls Bankruptcy Attorney Today

Financial difficulties deserve an immediate response. Whether you are a debtor in distress or a creditor whose borrower is in default, you need experienced legal counsel to protect your rights. Call our bankruptcy lawyers at Johnson May in Twin Falls, ID, today to discuss your legal dispute and other legal matters in a confidential setting.