Bankruptcy Overview

Bankruptcy Attorney in Honolulu

Helping Debtors & Creditors Across Oahu

If you are involved in a bankruptcy proceeding on the island of Oahu, whether as a debtor or as a creditor, you want an experienced bankruptcy attorney who will take the time to thoroughly evaluate your situation, help you identify your options, and give you a realistic idea of how your case will turn out. As a debtor, bankruptcy can give you a fresh start, but there are costs. As a creditor, you need to be certain that your interests are protected so that you maximize your recovery.

At Donald L. Spafford, Jr., Attorney at Law, we have counseled people for over 40 years. Our Honolulu bankruptcy lawyer represents debtors and creditors in all types of bankruptcy proceedings. 

Contact us to schedule a confidential meeting to discuss your bankruptcy concerns. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Guidance Through Personal Bankruptcy in Honolulu

We represent debtors and creditors in Chapter 7 and Chapter 13 personal bankruptcy proceedings, often in situations where credit card debt or adjustable mortgage rates have led to financial problems. If you are a debtor and qualify for a Chapter 7, we will help identify property that is exempt from sale, so that you can discharge debt without losing critical assets, such as your home or automobile. If you file a Chapter 13, we will help structure repayments so that your debt load is manageable and you can meet your obligations.

The bankruptcy laws changed in 2005, making it more difficult for individuals to qualify for a Chapter 7 bankruptcy filing. Debtors must now submit to a means test, where the bankruptcy court reviews the last six months of their income and determines whether they earn enough to enter into a repayment plan with their creditors. If you do, you will fail the means test and your only option with respect to bankruptcy will be to file a Chapter 13. We understand the new bankruptcy laws and will work with you to help you meet the requirements of the means test if Chapter 7 is in your best interests.

Strategic Business Bankruptcy

We also represent debtors and creditors in Chapter 11 "Reorganization" proceedings. Whether you are a business owner trying to manage your debt or a creditor looking for assurances that you will be paid, we can help.

If you need an experienced bankruptcy attorney in Honolulu, contact our offices to schedule a confidential consultation. We are located in the Pauahi Tower in Honolulu's central business district. Evening and weekend hours are available upon request.

Commonly Asked Questions

What are the benefits of filing for bankruptcy in Honolulu?

Filing for bankruptcy in Honolulu can offer a fresh start by discharging certain debts and stopping creditor actions such as foreclosures, repossessions, and wage garnishments. For debtors, it can mean keeping essential assets like a home or car when filing for Chapter 7, or creating a manageable repayment plan in Chapter 13. Creditors can benefit from a structured process to recover funds owed. Our Honolulu bankruptcy attorney guides both debtors and creditors through the process to protect their interests.

How has the bankruptcy process changed since the 2005 laws in Honolulu?

The 2005 bankruptcy law changes introduced a means test for Chapter 7 bankruptcy in Honolulu, which assesses a debtor's income over the past six months to determine eligibility. If the income is too high, the debtor may have to file for Chapter 13 bankruptcy instead, which involves a repayment plan. Our experienced attorney understands these changes and can help clients navigate the means test to determine the best course of action under the new laws.

Can a business file for bankruptcy in Honolulu and continue operating?

Yes, businesses in Honolulu can file for Chapter 11 bankruptcy, which is designed to reorganize debts and allow the business to keep operating while repaying creditors over time. This process can provide a business with the opportunity to restructure its finances, renegotiate contracts, and emerge as a more stable and profitable entity. Our attorney assists both debtors and creditors in Chapter 11 proceedings to ensure their interests are represented.

What should I consider before filing for personal bankruptcy in Honolulu?

Before filing for personal bankruptcy in Honolulu, consider the type of bankruptcy that fits your situation (Chapter 7 or Chapter 13), the assets you wish to protect, your income level, and the debts you aim to discharge. It's also important to understand the long-term impact on your credit score and financial health. Consulting with our Honolulu bankruptcy attorney can provide clarity on these considerations and help you make an informed decision.

How can I protect my interests as a creditor during a bankruptcy case in Honolulu?

As a creditor in a Honolulu bankruptcy case, it's crucial to ensure your claim is properly filed and represented. Our attorney can help protect your interests by monitoring the bankruptcy proceedings, asserting your rights, and seeking the maximum recovery possible. We work with creditors to navigate the complexities of bankruptcy law and strive to optimize the outcome of the case in your favor.

Schedule a Free Consultation

At the Honolulu offices of Donald L. Spafford, Jr., Attorney at Law, we have counseled individuals and businesses for over 40 years. We handle a broad range of legal issues for small businesses on the island, from business formation to commercial litigation. We place a high priority on customer service and affordable rates. Contact us today, to help end your bankruptcy issues.

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