Are you worried about losing your house?
Are you being harassed by creditors?
Have you tried to pay your bills and stay current,
but find yourself falling farther and farther behind?
If these are the stresses that you are facing,
it might be time to make a fresh start through bankruptcy.
An individual or business can declare bankruptcy once they have determined that paying off their creditors has become impossible. As most debts are relieved after bankruptcy, It is a chance to financially start over.
We are a debt relief agency, and we represent individuals and businesses that are having financial difficulties.
Chapter 7, or liquidation bankruptcy, is a proceeding in which the debtor's non-exempt assets are sold by the trustee and the proceeds are distributed to creditors according to the priorities established in the bankruptcy code. A means test must be completed to determine whether the individual is eligible to file Chapter 7. If the individual does not qualify according to the means test, Chapter 13 bankruptcy is still an option.
Chapter 13, is another form of consumer bankruptcy which is designed to help property owners keep their homes, cars, and other valuable assets through a repayment plan. Chapter 13 does not require a means test and is best suited for individuals with a steady income.
Chapter 11, is a form of bankruptcy reorganization available to individuals, corporations, and partnerships. Unlike Chapter 13, there are no limits on the amount of debt. Chapter 11 is best suited for businesses seeking to restructure, but still stay in business. With a Chapter 11, the debtor typically says in possession of its assets, and operates the business under the supervision of the court and for the benefit of creditors.