Bankruptcy - Chapter 7 

Chapter 7 bankruptcy is  the most prevalent type of bankruptcy case in the United States.  Most Chapter 7 bankruptcy cases start with an initial consultation where the Clients are able to sit down with the attorney and discuss their finances and review the  available options.  The Clients will begin the process by meeting with an experienced attorney to review their financial situation.  During the consultation, the Clients and the attorney should discuss the Clients’ finances in dept. Most Chapter 7 bankruptcy cases last approximately 100 days and at the end the Clients’ personal liability for the debts is discharged.  In order to successfully file a Chapter 7 case, Clients must “qualify” under the Means Test.  In the initial consultation, the attorney will review the Clients’ income to determine whether the Clients are candidates for Chapter 7.

There are many complicated issues that can arise in a Chapter 7 case - far beyond whether the Clients “qualify” under the Means Test.  Assets, past financial history and a myriad of other factors can impact a bankruptcy filing.  It’s essential to have an experienced bankruptcy attorney thoroughly review the Clients’ finances and documentation prior to filing to ensure a smooth bankruptcy case. Read more here.

Chapter 13

In a Chapter 13 bankruptcy case, an attorney will help the Clients draft a plan to restructure their debts over 3-5 years.  In most cases, Clients are not required to repay all of their debts. Very often some or all of a Clients’ unsecured debt like credit cards is discharged in a Chapter 13 case.  Chapter 13 also allows Clients to strip away second mortgages, reduce the balance (“cramdown”) owed to vehicle loans, and repay priority tax obligations at no interest. Read more here.

Chapter 11

Chapter 11 bankruptcy cases are designed primarily for businesses who want to restructure their existing debts. Chapter 11 cases are not normally used (or probably shouldn’t be) for individuals/consumers. In rare scenarios, if neither a Chapter 7 case nor a Chapter 13 case would work for someone, then Chapter 11 may be an option.

Debt Settlement, FCRA/FDCPA Violations, Consumer Protection

Our firm also handles Fair Credit Reporting Act (FCRA) and Fair Debt Collection Practices Act (FDCPA) violation cases.  If you have credit reporting errors you want resolved, we can assist you.  Similarly, if a creditor is harassing you or violating debt collection laws, we can help you exert your rights.

In some cases, debt settlement may be a better fit for clients than other options.  We have an excellent track record with getting low, affordable settlements for our Clients.  If you’re thinking about debt settlement, contact us today to see what options you may have. Disclaimer: We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Nothing contained in this website should be construed as legal advice. Consult with an attorney for advice regarding your individual situation. Contacting us through this website does not create an attorney-client relationship. Nothing in this website is intended as tax advice, nor is it intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Attorney Brett Bodie is responsible for this website.

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