Bankruptcy in Hawaii

Hawaii bankruptcy attorney Khaled Mujtabaa has over 28 years of experience helping individuals recover from overwhelming debt.  He provides the personal attention, help and advice for your Hawaii bankruptcy case and can help get you back on the road to financial recovery

Mr. Mujtabaa offers a free initial consultation.  If you want more information about bankruptcy litigation in Hawaii, please call or fill out our online contact form with any questions you have.

Bankruptcy Laws in Hawaii

Bankruptcy is the process under federal law that allows debtors who owe more money than they can pay to either eliminate their debts or work out a payment plan to pay a portion of their debts over time.

Making the decision to file bankruptcy is not easy.  Getting all the information about bankruptcy and answers to your questions so that you can make an informed decision is very important.  Many of us are overwhelmed by debt as a result of a loss of job, death or illness in the family, mortgage and credit card overloads.  We can help you decide if bankruptcy is right for you

Chapter 7 Bankruptcy in Hawaii

Hawaii bankruptcy Chapter 7 is the most common form of personal bankruptcy, also known as liquidation or straight bankruptcy.  It accounts for 65% of all personal bankruptcy bank filings and is typically one of the faster forms of starting afresh.  Debts can typically be discharged within months when filing with an experienced chapter 7 bankruptcy lawyer.
Under Chapter 7 of the bankruptcy code, all non-exempt property and assets are sold and the finances are distributed to creditors.  This provides a clean slate.  To qualify, you must provide the proper documents showing your income is low enough.

Under the new law, if your income is above the median income level for the area you live in, a second test checks your tax deductions and actual expenses like car payments, mortgage payments, and health insurance.  If this shows little or no disposable income you still qualify.

Chapter 13 Bankruptcy in Hawaii

Hawaii bankruptcy Chapter 13 is easier to qualify for and similar to debt consolidation.  It involves creating repayment plans rather than fully discharging debts.  In a Chapter 13 bankruptcy you are put on a repayment plan lasting up to five years. 

Some of your unsecured debts such as medical bills and credit cards can be repaid at a lesser amount than the actual balance and the remaining balance can then be discharged or wiped out at the end of the repayment plan.

The main difference between Chapter 7 and Chapter 13 bankruptcy is that Chapter 13 offers the full discharge option which in not applicable under Chapter 7.  If a debtor manages to complete all necessary payments, they are given full plan discharge.  Your bankruptcy attorney can review certain exceptions to this rule with you.  Typically , Chapter 13 allows you to keep your house and car while lowering your payments.  And the biggest advantage is that a repayment can be created even if creditors disagree with it, as long as it is approved by the court.

Chapter 11 Bankruptcy in Hawaii

Hawaii bankruptcy Chapter 11 is a form of business bankruptcy reorganization available to individuals, corporations and partnerships.  It has no limits on the amount of debt and is the usual choice for large businesses seeking to restructure their debt.  Mr. Mujtabaa can assist, but does not specialize in Hawaii Chapter 11 business bankruptcies. 

Contact Us Today for Hawaii Bankruptcy Help

Get creditors off your back and start your life new by filing for bankruptcy.  It could mean a whole new start for you and your family, and your credit can be restored quicker than you think. 
For more information, please call Mr. Mujtabaa today, or fill out our online contact form arrange a no cost, no obligation initial consultation.