Bankruptcy is a legal procedure initiated by an individual or a business that cannot pay their debts and seeks to have the debts discharged or reorganized by the courts.
Bankruptcy cases almost exclusively fall under federal law, though states may pass laws governing issues that federal law doesn’t address. Special bankruptcy courts nationwide handle only debtor-creditor cases. Generally, any bankruptcy-related claim must be filed with the U.S. Bankruptcy Court.
- Chapter 7 (Individual Bankruptcy) – A petition filed under Ch. 7 of the U.S. Bankruptcy Code for an individual debtor to liquidate his or her assets and settle or discharge debts
- Chapter 11 (Business Reorganization) – A petition filed under Ch. 11 of the U.S. Bankruptcy Code for a business to reorganize its liabilities and assets, as well as settle or discharge its debts
- Chapter 13 (Wage Earner’s Plan) – A petition filed under Ch. 13 of the U.S. Bankruptcy Code where an insolvent debtor may ask the court to grant additional time for the debtor to pay off his or her debts, so long as the debtor is earning a steady income ability to pay a debt
Our Approach For Bankruptcy Cases
We assist our clients in the entire bankruptcy process, from pre-bankruptcy planning to completing and filing bankruptcy petitions and attending all necessary hearings.
Our legal team helps clients obtain a fresh start through the bankruptcy process, and provide a means for clients to start rebuilding their future.
Your Next Steps
Start on your path toward a more secure future by contacting our bankruptcy law firm today.
Rest assured that when you consult our legal team, you will receive the attention and personalized care you deserve.
Request a free consultation so we can learn more about your situation and how our legal team can help!