What is Bankruptcy?

Bankruptcy is a legal process that allows individuals and businesses to reorganize or eliminate their debts. It provides a fresh start, allowing you to start over without the burden of debt. There are several types of bankruptcy, including Chapter 7 and Chapter 13.

Why Do I Need a Bankruptcy Attorney?

A bankruptcy attorney can help you navigate the complex process of filing for bankruptcy. They can guide you through the different types of bankruptcies, explain the costs involved, and ensure that your rights are protected. A good bankruptcy attorney can also represent you in court if necessary.

Types of Bankruptcies

• Chapter 7: Liquidation bankruptcy, where most of your assets are sold to pay off creditors. This type of bankruptcy is usually suitable for individuals with a limited income.
• Chapter 13: Reorganization bankruptcy, where you create a repayment plan to pay off debts over time. This type of bankruptcy is typically used by individuals with regular income and significant debt.