Chapters 7 and 13 of the Bankruptcy code offer relief to people in debt (referred to as “debtors” in the bankruptcy world). The purpose of Bankruptcy is to give people a fresh start from their debts. The end result is the discharge, which is an order from the court that the debtor is no longer obligated to pay back his or her debts and that creditors are not to take any steps to ever collect that debt. Most debts in bankruptcy are dischargeable. Common dischargeable debts include, but are not limited to, credit card debts, medical debts, and judicial liens. Personal liability on mortgages and car loans are also dischargeable, but if you want to keep the property you have to continue making the loan payment. Certain debts are not dischargeable in bankruptcy, such as student loans, child or spousal support, and personal income taxes that are less than 3 years old. However, there are options to deal with these debts.
Under both chapters, there are a number of assets that you can exempt, including automobiles, household goods, real estate, retirement plans. To learn about Chapter 7, click here. To learn about Chapter 13, click here. Which chapter, if any, is appropriate for you as well as how much property you can exempt depends primarily on your assets, your amount and types of debt, and your income. Contact me to set up a free analysis. To learn about the process of filing for bankruptcy, this video produced by the United States Courts, provides an overview: Bankruptcy Basics
The word “bankruptcy” scares many people and often triggers presumptions that are not true or are only partially correct. On my Frequently Asked Questions page, I address common concerns from potential clients.
About My Bankruptcy Practice
An Experienced Bankruptcy Practitioner
I have filed many Chapter 7 and Chapter 13 cases that have ranged from the basic to the complex. In order to stay on top of the issues, I attend monthly meetings with other bankruptcy lawyers and bankruptcy trustees, participate in list-serve discussions, and am a member of the National Association of Consumer Bankruptcy Attorneys. In short, I do not dabble in Bankruptcy.
I meet with you and work with you from start to finish
You will always meet with me, and I work on your case from start to finish. At no point will a paralegal or an administrative assistant be meeting with you to save attorney time or to prepare your petition. Preparing your petition properly is 90% of the effort in getting your discharge. Therefore, I think it is necessary that it be prepared by an attorney.
Federal law requires bankruptcy attorneys to disclose the following:
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. This page contains advertising and nothing on this page should be considered legal advice. No attorney / client relationship can be formed until an in-person meeting is conducted and an agreement is signed.