Bankruptcy Services

Chapter 7 Bankruptcy

Chapter 7 bankruptcy eliminates most unsecured debt, stops wage garnishments, bank levies and most court action.   In Chapter 7, your unsecured debts are usually discharged in a matter of months.  Certain debts remain, including debts secured by real estate or a motor vehicle, student loans, domestic support obligations and income taxes.  Chapter 7 bankruptcy is limited to Debtors who have a certain maximum income and who have a limited amount of assets.  Even small businesses can file for Chapter 7 bankruptcy relief, and are often done so in conjunction with the business owner’s filing an individual Chapter 7 bankruptcy.  With Chapter 7, you are a given a “fresh start”.   After all, “it’s never too late to start over”.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy creates a repayment plan for debtors whose income or assets are too high to file for bankruptcy under Chapter 7.   Chapter 13 bankruptcy also addresses unsecured debt, stops wage garnishments, bank levies and most court action.    There are upper limits to income and assets and debts for Chapter 13 debtors, but most clients who do not qualify for Chapter 7, will qualify for a Chapter 13 repayment plan.    After 3 to 5 years of Chapter 13 payments, on time and in full, most remaining unsecured debts are discharged by the Chapter 13 “super-discharge”.    Chapter 13 also will give you a fresh start.  

Remember: “It’s never too late to start over”.

Bankruptcy Kit

What papers do I need to file for bankruptcy? How do I take the required credit counseling and debtor education classes? Do I need tax returns, pay stubs, and bank account statements? How about other income and asset information like my 401(k) and pension statements? Can I transfer property out of my name? Can I use my credit cards before filing bankruptcy?

Click below to download the Bankruptcy Kit.  In it, you will find an outline of what you will need to file for bankruptcy, credit counseling information, and IRS form 4506-T (to get transcript copies of your federal tax returns).