Bankruptcy (Chapter 7 & 13)
We believe that no matter the situation that has brought you to our office, we want to be the bankruptcy firm that meets your needs.
A Chapter 7 Bankruptcy is a complete or a liquidation bankruptcy. It is often the tool an individual may use to quickly escape the burden of excessive debt and receive a fresh financial start. The bottom line with a Chapter 7 Bankruptcy is that it is a way to discharge (or have the federal government wipe out) certain debts, including but not limited to medical debt, credit card debt, and personal loans.
A Chapter 13 Bankruptcy allows a Debtor to enter into a Repayment Plan that will address the Debtor’s debts over the course of a thirty-six to sixty months (3 to 5 years) repayment period. The Debtor’s payments are made to the Chapter 13 Trustee (an individual assigned by the Court to manage the Debtor’s payments to creditors under the Repayment Plan) throughout the case and, once the Court has approved the Repayment Plan, the Trustee disperses payments in accordance with the Repayment Plan to all of the creditors.