Bankruptcy allows businesses and individuals to restructure and/or discharge debt, providing a financial fresh start. Call us. We can help.
Chapter 7 Bankruptcy
Do you have primarily consumer debt? You can discharge consumer debt in a Chapter 7. While there are some debts you cannot discharge, a Chapter 7 allows an individual the possibility of financial success in the future.
Chapter 13 Bankruptcy
This chapter is available for individuals who may make too much money to qualify for a Chapter 7 or need to reorganize their debt for other reasons. The individual enters into a payment plan with bankruptcy court over a three to five year period. Some debts may be discharged once the plan is completed.
Chapter 11 Bankruptcy
This chapter is available to businesses. A Chapter 11 debtor usually proposes a plan of reorganization to keep its’ business alive and pay creditors over time. People in business or individuals can seek relief in Chapter 11.
This is a separate lawsuit filed within the bankruptcy case. Like most lawsuits, it starts when someone (the creditor, the bankruptcy trustee, or you) files a complaint and can involve a allegations of fraud, seeking turn over of property, setting aside property transfers, or other similar claims.