Bankruptcy
Bankruptcy Cases
Bankruptcy is a legal proceeding that helps you if you are facing many credit problems including:
- Credit card debt
- Medical bills
- Foreclosure
- Repossession of property
- Garnishment
- Termination of utility service
- Collection calls
Types of Bankruptcy
Chapter 7
sometimes called Straight Bankruptcy, asks the court to discharge your debts. In most cases you can keep property that is “exempt” under the law.
Chapter 13
asks the court to allow you to file a plan to pay all or a portion of your debts over a period of years. It may allow you to keep your home and your car.
Chapter 12
is for family farmers who need protection from their debts and want to keep their farms.
Chapter 11
asks the court for “reorganization” for businesses and individuals with large debt.
Other Debts
There are some debts that cannot be discharged in bankruptcy. These include student loans, most taxes, most criminal fines and penalties, DUI injury claims, alimony and spousal or child support, and fraud.
