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Bankruptcy in the Tri-States

Bankruptcy

Many of the people who are deep in debt are your average, hardworking citizens who either fell on bad luck or have been hit by the financial crisis. There is hope!

The bankruptcy process has helped millions of people burdened with overwhelming debt. Bankruptcy is the legal proceeding which allows people who can´t pay their bills to get a fresh financial start. The right to file for bankruptcy is governed by Federal law, and all bankruptcy cases are handled in Federal Court. Filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you until your debts are sorted out according to the law.

In Chapter 13 cases, the U.S. Bankruptcy Code provides for a plan that allows a debtor, who is unable to pay his creditors, to resolve debts over time. In Chapter 13 and Chapter 7 cases the interests of all creditors are treated equally. Additionally, bankruptcy allows debtors to free themselves of the financial obligations (obtain a Discharge) after their assets are distributed (in Chapter 7), or an approval plan is completed (Chapter 13) even if their debts have not been paid in full.

Bankrupt Need Lawyer