Filing Bankruptcy Can Eliminate Overwhelming Debt
CHAPTER 7 BANKRUPTCY
Known as the “Liquidation Bankruptcy” Chapter 7 is often the most direct path to a fresh start; helping people who are struggling due credit card debt, medical bills and/or loans.
CHAPTER 13 BANKRUPTCY
Allows debtor to keep their property. The defendent is required to propose a payment plan to the court based on their monthly income.
CHAPTER 11 BANKRUPTCY
Is often referred to as reorganization and is common among business owners. Businesses restructure and gain the ability to meet their financial obligations while paying creditors over time.
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