PERSONAL BANKRUPTCY

Bankruptcy provisions are designed to apply to specific situations.  Bankruptcies for people, known as "Personal bankruptcies" generally fall into one of two categories, commonly referred to as Chapter 7 and Chapter 13.  Businesses, while considered to be "persons" in the legal sense, fall under different rules and are addressed on the "Business Bankruptcy" page. 

Chapter 7

In return for surrendering all of your non-protected assets to the Bankruptcy Trustee, the court will eliminate your unsecured debt. 

Chapter 13

In return for agreeing to make monthly payments to the Bankruptcy Trustee for a period of time, any unsecured debts that are not paid at the end of the payment period will be discharged.

Which is better depends on your situation and goals.

Each chapter is designed to deal with certain issues and includes specific tools for doing so.​ Our goal is to help you eliminate your financial stress and get on with living. One of the ways we help you do this is by assessing your situation and recommending the best way to proceed.

Personal Bankruptcy Can:

  • Prevent foreclosure on your home

  • Prevent repossession on your car

  • Reduce or eliminate certain debts

  • Reduce or eliminate certain taxes

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What we do

Since the bankruptcy court will not accept guesses, estimates or speculation, we don't either.  We start by collecting all necessary financial documents and information, including your specific needs and goals. Once we have the financial documentation and information, we perform a thorough and complete analysis of your financial situation. Applying our extensive experience and knowledge of bankruptcy law to your financial analysis, we develop a strategy for your situation, designed to maximize your recovery and achieve your goals to the extent possible. As we review your financial recovery plan with you, you will develop an understanding of what to expect and when, right down to the exact date we file your bankruptcy petition.  

 

We eliminate unwelcome surprises by gathering the facts and documents at the outset, so that we can help you understand what to expect, when, why, and how we will help you move beyond your current financial difficulties.  

We do not speculate about bankruptcy outcomes based on a brief conversation and a few questions. This can lead to unwelcome surprises and can cost you severely.

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