Our Practice Areas
Phillips Law Office focuses on consumer debt relief, corporate restructuring, and foreclosure prevention. We use lawful methods to help clients repay and clear their debts. We also represent creditors in adversary proceedings.
Consumer Debt Relief
An illness, a divorce, getting laid off, and reckless spending can hurt you financially. If the debt grows to more than you can comfortably pay, it's time to seek consumer debt relief. You have several options, including debt consolidation, modification of existing installment plans, and taking out a second mortgage. We will only recommend filing for Chapter 7 or 13 as a last-resort option. Don't be afraid, though, if things come down to bankruptcy; Phillips Law Office will be with you every step of the way. Through consumer debt relief, you can wipe out most, if not all, of what you owe; repay your non-dischargeable debts, and keep your credit rating from falling further. Filing for bankruptcy will also protect your home and keep your creditors from hounding with phone calls and house visits. You'll feel less stressed. More importantly, you can focus on repaying what remains of your non-dischargeable debts and setting precautions so that you don't get into financial trouble again.
Losing your home to creditors and leaving your family without a roof over your heads is the biggest threat of indebtedness. It might be tempting to give up your home to end your problem, but you should know that there are other things you can do to pay off your debts. Phillips Law Office can guide you through them all. Debt consolidation or renegotiation of loan terms may appease your creditors; we can draft the paperwork to make the new arrangements legal and reassure your new lenders of your intent to pay off your debt. Chapter 13 bankruptcy will also halt any efforts to claim your home and other collaterals. Essentially, foreclosure prevention measures buy you time to plan and pay off your debt. Waiting for a windfall will get you nowhere. Your creditors will keep knocking on your door and call you every day if you do nothing to stop it. Don’t endure the stress. Act. Start by calling Phillips Law Office.
It’s heartbreaking to have to close your doors once you’ve used up all your inventory and resources. You probably invested your life savings into your business venture and had high hopes for its success. Closing down may not be your only resort, however. Save your business by exploring other options to take it out of the red. Phillips Law Office can show you possible solutions through corporate restructuring. There are two ways to restructure a business organization. First is to change its administrative structure, like creating new key positions, changing departments and hierarchical levels, downsizing, and revisiting job descriptions. Through organizational restructuring, your business can reduce costs while increasing efficiency and revenue. The second is financial restructuring, a more complicated process of reorganizing the business’s equity (assets) and debt (liabilities) capital. It reshuffles the contents of your balance sheets to minimize the cost of capital, reduce production costs, and increase efficiency and production.
We strive for diplomacy in resolving debt and bankruptcy cases. Sometimes, however, the situation calls for more stringent legal action. Whether it’s the debtor or the creditor that needs our help, Phillips Law Office will be there. An adversary proceeding occurs when either the debtor or the creditor in a Chapter 7 or Chapter 11 bankruptcy case suspects the other of fraudulent activity. A creditor, for example, may contest the discharge of a debt if he or she has reason to believe that the debtor made a preferential debt repayment or concealed funds that should have been used to repay the debt. Likewise, a debtor can file an adversary proceeding if a creditor refuses to discharge debts, violates automatic stay, or is a suspect in fraudulent transfers. Our bankruptcy lawyers are experienced in representing plaintiffs and bailiffs, and debtors and creditors in adversary proceedings. Consult with our attorneys to verify if you have enough grounds to file a lawsuit against your debtor or creditor.
With careful planning and management of your consolidated debt or modified terms, you can weather this challenging period and regain control of your finances. Talk to Phillips Law Office and explore all legal options available to you.