Our bankruptcy attorneys have helped hundreds of individuals and businesses discharge millions of dollars of unmanageable debt.
Chapter 7 Bankruptcy
Known as the liquidation bankruptcy, debtors surrender nonexempt property to be sold to repay or partially repay creditors. While it is one of the quickest and most affordable types of bankruptcy, not every debtor qualifies.
Chapter 11 Bankruptcy
This type of bankruptcy is commonly referred to as a reorganization because it is typically utilized by businesses to reorganize difficult debt and devise a plan for post-bankruptcy profitability.
Chapter 13 Bankruptcy
Chapter 13 allows debtors with regular income to create a repayment plan similar to debt consolidation. The critical difference, however, is that after the bankruptcy concludes, the remaining debt can be discharged fully.
Though not a type of bankruptcy, reaffirmation refers to a debtor’s agreement to continue to pay a particular debt after the bankruptcy. Usually this is done to allow debtors to retain nonexempt property through a Chapter 7 Bankruptcy.