Clients who may be able to qualify for a Chapter 7 bankruptcy include individuals, corporations, partnerships and other business entities. While a Chapter 7 bankruptcy cannot eliminate all forms of debt, most debts can be discharged. Examples of debt that can be wiped out include:

• ✓Credit card debt
• ✓Personal loans
• ✓Business debts
• ✓Accident claims
• ✓Utility bills
• ✓Fees paid to attorneys
• ✓Dishonored checks
• ✓And more

Do note that your property could be subjected to liens and mortgages under Chapter 7, depending on the facts and circumstances involved. It is important to discuss your case with us to determine whether Chapter 7 is right for you.

Any individual — including anyone who is self-employed or who operates an unincorporated business — may file for Chapter 13 bankruptcy if certain financial conditions are met. You are eligible if unsecured debts are less than $394,725 and secured debts are less than $1,184,200.

If you are eligible, Chapter 13 effectively restructures your debt into an affordable payment plan based on your individual income, allowing you to keep important assets such as your home. Typically, this form of bankruptcy discharges your debts within three to five years — making it the best option for those with steady income who wish to avoid foreclosure.

This form of bankruptcy applies most often for those with significant business debts. However, individuals can also file for Chapter 11, although it is most often used by small businesses, sole proprietorships, corporations and partnerships who need to reorganize.

Filing for Chapter 11 allows businesses to continue operating while reorganizing debts. A Chapter 11 plan can involve downsizing operations to free up key assets, or a liquidation plan for businesses prepared to make a total shutdown of operations. We will help you create a detailed strategy that keeps your best interests in mind.