With many years of experience working with bankruptcy clients, Moss Law, PLC can help you.
First, it is important to acknowledge that clients considering bankruptcy are often in crisis mode. We understand this position and are here to help. Depending on your particular situation, there are options to consider–and there is life after bankruptcy.
Often, we are able to work with a client who assumes that bankruptcy is the only option, and find workable options that avoid the bankruptcy process, but solve the financial problems. When we determine that bankruptcy is the solution that makes most sense, we walk you through the process.
Bankruptcy is a process that enables a person to walk away from some or all of his/her debts. It is a concept that is rooted far back in US Law. There are actually several types of bankruptcy.
The most common types of bankruptcy we are asked about are Chapter 7, Chapter 9, Chapter 11 and Chapter 13 Bankruptcy.
Chapter 9 bankruptcy is actually a part of the Title 11 bankruptcy code that only has to do with municipalities and is generally not something for individuals or businesses to deal with.
Chapter 7 bankruptcies can be thought of as a new beginning of sorts. Those who file this type of bankruptcy, typically keep all of their assets–homes, vehicles, valuables, savings, etc.
Chapter 11 and Chapter 13 bankruptcies can be thought of types of repayment, or partial repayment plans. Chapter 11 is for big companies to file and Chapter 13 for individuals or smaller companies. In these arrangements clients pay back their creditors according to a mutually agreed upon schedule. Sometimes the repayment is not dollar for dollar. In fact, part of the job of the attorney is to help negotiate a deal and repayment may be as little as pennies for every dollar owed.
Moss Law, PLC has helped many clients in financial stress situations. Moss Law, PLC is ready to help you. Contact us here to discuss a personal solution, tailored to help you best.