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Chapter 7 and Chapter 13 Bankruptcy


hapter 7 and Chapter 13 Bankruptcy

Millions of Americans suffer from debt — in many cases, the debt is insurmountable given the current economy, job loss and median income. Bankruptcy is a legal way for those who cannot pay their bills to get a fresh financial start. The right to file for bankruptcy is provided by federal law, and all bankruptcy cases are handled in federal court. At the law office of Ribstein & Hogan we can help you explore their bankruptcy and debt relief options.


iling bankruptcy immediately stops your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law. Put simply, bankruptcy is a way for honest people or businesses that owe more money than they can afford to repay either wiped out or reduced and worked into a plan to repay the money over time. Bankruptcy may make it possible for you to:

Legally end the obligation to pay most or all of your debts through an arrangement called a discharge of debts. It is designed to give you a fresh financial start.

Stop foreclosure on your house or mobile home and give you an opportunity to catch up on missed payments.

Stop wage garnishment, debt collection harassment, and similar creditor actions to collect a debt.


ho Is Filing for Bankruptcy?

Most people who file for bankruptcy have suffered an unforeseeable event such as a serious injury or medical condition, job loss, or an expensive divorce that lead to severe financial problems. In the current economy, a financial upset such as this could leave an individual or family without the means to pay off credit card debts or keep up with a mortgage payment. Even after trying other debt relief solutions such as negotiations or settlement, bankruptcy may be the best option to achieve financial independence. In many cases, debt cannot be repaid, even if income is stabilized.

Do I qualify?

To discuss your bankruptcy options and debt relief solutions, please contact Ribstein & Hogan Law Firm, an experienced bankruptcy law firm serving individuals, families and businesses throughout eastern South Dakota.


We are a full-service, general practice law firm, in the areas of Personal Injury, Litigation, Business Law, Estate Planning, Financial Restructuring & Bankruptcy, Real Estate, Taxation, Social Security, Criminal Law, and Family Law. South Dakota lawyers who are ready to help in your case.