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Bankruptcy Law

Bankruptcy Law

Bankruptcy law deals with the processes under which a company or person experiencing financial difficulties can either eliminate or work out a repayment plan to help get out of debt.

A bankruptcy lawyer can help decide if bankruptcy is right for you, and guide you through the type of chapter to file under. Bankruptcy lawyers are hired to file on behalf of an individual or a company. Many bankruptcy lawyers can handle different types of bankruptcies but some may specialize in one type only so make sure you find one that is familiar with handling situations like yours.

Common Bankruptcy Topics include:

* Chapter 7 Bankruptcy – when an individual or a company wants to dissolve./liquidate their assets in order to eliminate their debts.

* Chapter 11 Bankruptcy – Reorganization or when a company or individual with a company wants to restructure their debts to get back on track.

* Chapter 13 Bankruptcy – Restructure the debts over an extended time to get on a more affordable payment schedule and you can keep more assets.

* Meeting of Creditors

* Prevent foreclosures

* Repossession

* Debt settlement

* Wage garnishment

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