[no_toc]Bankruptcy has lost much of the stigma that it once had, but many people still feel reluctant to file for bankruptcy whether as an individual or for the company they own and operate. Sometimes the emotional aspect of bankruptcy is more difficult than trying to get a handle on the technical aspects.

Bankruptcy Articles

Foreclosure Defense Lawyers

Do I Need a Foreclosure Attorney? Wealthy mortgage holders are not immune from the possibility of foreclosure. In today’s tough economy, many high-end homeowners as well as middle-class homeowners have…

Florida Wage Garnishment Exemption

How To Stop Florida Wage Garnishment Florida’s Wage Exemption Statute provides relatively generous protection for those who meet the definition of “head of family” and are facing a judicial garnishment…

So What Really is a Debt “Write-Off”?

Debt “Write Off” and “Charge Off” Does Not Mean What You Think it Means Have you ever had a debt “charged off” or “written off” on your credit report and…

Rebuild Your Credit: File Bankruptcy

One of the biggest myths about bankruptcy is that it destroys your credit. People believe that if they file bankruptcy they will never again have good credit. But let’s look…

Bankruptcy Can Stop Lawsuits

Your creditors don’t want you to know this, but it’s true. Bankruptcy can stop lawsuits. Unfortunately, most people don’t do anything when a creditor sues them. They don’t even bother…

Bankruptcy and Auto Loans

File Bankruptcy And Stop Hiding From the Repo Man Did you know that filing bankruptcy will automatically take your name off the repo man’s list? That’s right. . .bankruptcy can…

Bankruptcy Can Help With Judgements

If you are behind on your bills, you undoubtedly are being bombarded with phone calls and letters from your creditors and collection agencies. They want their money and they want…

Top 16 Myths About Bankruptcy

You know all those bad things ….you’ve always heard about bankruptcy. Most of it is NOT TRUE…. and we’ll prove it….right here…right now. Here are the Top 16 Myths your…

Low Cost Bankruptcy Attorney

How to Find an Affordable Bankruptcy Attorney If you’re to the point where you’ve begun to research the process of selecting a bankruptcy attorney, you’ve no doubt already experienced a…

Chapter 7 Bankruptcy Process

Chapter 7 Bankruptcy Are you considering bankruptcy? Do you need more information regarding how to file bankruptcy? Have you already filed and have a question about what happens next? This…

Types of Bankruptcy

When most people talk about filing bankruptcy, they usually are referring to either Chapter 7 or Chapter 13. On the other hand, when you turn on the news and hear…

Bankruptcy in Texas

Resources for filing bankruptcy in Texas Welcome to the Bankruptcy in Texas page, your source for Texas-related bankruptcy resources and information. Be aware that bankruptcy laws and requirements differ from…

Copy of Bankruptcy Discharge Benefits

Although the bankruptcy discharge papers may not look like much (see the bottom of this page for an example), just about anyone who files a petition can attest to the…

Bankruptcy Lawyers

Emergency Bankruptcy Fillings – If you’re looking to stop foreclosure or wage garnishment, contact our bankruptcy attorneys with over 15 years of experience today! We can file your case TODAY! Do not let them file a lawsuit against you, take any money from your paycheck or bank account, or let them evict you from your home. We can help. You deserve to have your situation heard by our experienced bankruptcy attorneys and former U.S. Bankruptcy Trustee who focus solely on debt-relief. Let our team help you eliminate your debt and guide you to the fresh financial start you deserve.

Think About Your Bankruptcy Options

If you are considering bankruptcy as an option, it’s best to learn about the basics before you see a bankruptcy attorney. There are several bankruptcy options to choose from, and your unique individual circumstances will help determine what’s right for you. Going over the fundamentals of bankruptcy here will give you time to think about what you’re comfortable with before you discuss your case with the lawyer.

A Federal Matter

Bankruptcy is a federal matter that requires a trip to the federal courthouse in your area. Federal bankruptcy law has chapters that describe each type of bankruptcy, and the commonly used names for the bankruptcy options are these chapter numbers.

Chapter 11 Bankruptcy: For Businesses

Chapter 11 is generally just for businesses, although an individual could file a Chapter 11 bankruptcy. It involves reorganizing the finances of the business as a way to keep the business “afloat” even though it’s going bankrupt. The business gets to keep operating while the creditors get paid at least some of what is owed them.

Chapter 7 Bankruptcy

In a Chapter 7 bankruptcy, most or all of an individual’s or married couple’s debts are wiped out (the term used is “discharged”). The people filing the bankruptcy have to give up some or all of their non-exempt” property to help pay off creditors, such as:

  • equity in a home, vacation home, another real estate
  • expensive clothing such as furs
  • high-price, non-essential electronic equipment
  • expensive vehicles that the debtors do not require for their work

A completed Chapter 7 bankruptcy discharges the remaining debt, in a process that takes at least three to six months. Some bankruptcy courts are very busy these days, so find out from your attorney how long you can expect your bankruptcy to take.

Chapter 13 Bankruptcy

In a Chapter 13 bankruptcy, a debtor doesn’t have to give up any of his or her non-exempt property. However, this type of bankruptcy schedules a pay-off of most or all of the debts, over a specified period of time — generally three to five years. Thus, a Chapter 13 bankruptcy is a tool to consolidate your debts and possibly reduce your obligation. It can be the best option when a mortgage or car payments, unsecured debts such as credit cards or medical bills, or other debts are overwhelming you but you prefer to pay at least some of the debts.

Contact a Bankruptcy Attorney in Your Area

Bankruptcy is a serious step to take. Discuss your circumstances in-depth with an experienced bankruptcy attorney today, and begin your journey to financial recovery.

Bankruptcy Laws

Attorneys spend years learning all of the aspects of bankruptcy law, and if you as an individual, a married couple, or a business owner are considering filing for bankruptcy, it's imperative that you consult an experienced bankruptcy lawyer. There are six types of bankruptcy under the Bankruptcy Code, located at Title 11 of the United States Code:...


Bankruptcy Lawyers

A person so deep in debt that he cannot pay his creditors tends to be desperate and may depend upon a bankruptcy lawyer every bit as much as a criminal defendant would depend on a criminal lawyer.  A bankruptcy attorney needs to understand basic mathematics, clear writing, and personal negotiation.  This is so that his...


Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows you to restructure your debts and pay them over a three to five-year period in a payment plan that you and the U.S. Trustee agree to, not one the creditors agree to.  This is a key element.  The U.S. Trustee creates a payment plan so you can live comfortably while paying...


Chapter 7 Bankruptcy

Chapter 7 bankruptcy is a debt liquidation proceeding which allows a debtor to eliminate most of his unsecured debt. Any individual residing, domiciled, or having business property in the U.S. may file a Chapter 7 bankruptcy case. Businesses may also file Chapter 7 bankruptcy. Chapter 7 Bankruptcy Eligibility If you are facing heavy unsecured debts and...