The fundamental goal of the federal bankruptcy laws enacted by Congress is to give debtors a financial "fresh start" from burdensome debts. The Supreme Court made this point about the purpose of the bankruptcy law in a 1934 decision:
[I]t gives to the honest but unfortunate debtor…a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt. This goal is accomplished through the bankruptcy discharge, which releases debtors from personal liability from specific debts and prohibits creditors from ever taking any action against the debtor to collect those debts. (Local Loan Co. v. Hunt, 292 U.S. 234, 244 (1934))
At our firm, we start at the beginning.
What are the circumstances that have led you to consider filing bankruptcy in the first place? Was it Divorce? Failed business? Loss of work? Some kind of injury, illness or family tragedy? Has poor money management or some form of addiction led you here?
Whatever your circumstances, we are here to help you determine whether bankruptcy is the right choice for you.
Have you received a foreclosure notice?
Are your wages being garnished or have your bank accounts been frozen?
We all run into financial difficulties at times. Sometimes those difficulties can overwhelm us to the point of needing intervention. The purpose of Bankruptcy is to give debtors a ‘fresh start.’ Whether seeking a Chapter 7 ‘liquidation’ or a Chapter 13 (or 11) ‘restructuring’ of debt, Bankruptcy can help put you back on the road to financial recovery.
TYPES OF BANKRUPTCY
There are two types of Bankruptcy for persons with "primarily consumer debts" (i.e., they are not seeking a liquidation or reorganization of their business debts ) and those are Chapter 7 and Chapter 13.
Which one you qualify for depends primarily on your income. In a Chapter 7, whether or not you will get to keep all or some of your assets depends on the extent to which they are covered under the applicable state or federal exemptions.
We are a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code. The services, benefits or assistance we provide in connection with consumer debts may involve bankruptcy relief under the Bankruptcy Code.
Attorney Advertisement. Prior results do not guarantee a similar outcome.
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.