Bankruptcy Representation for Individuals and Families
Bankruptcy isn’t just for people who have given up—it’s for people ready to move forward. It provides
immediate relief through the automatic stay, stopping most collection actions the moment your case is
filed. An experienced bankruptcy attorney can help you determine if this is the right time to file and
which chapter best fits your financial goals.
Chapter 7 Bankruptcy
Chapter 7 is for individuals who have difficulty preventing them from paying their debts and who are
willing to allow their non-exempt property to be used to pay their creditors. The primary purpose of
filing under chapter 7 is to have your debts discharged. The bankruptcy discharge relieves you after
bankruptcy from having to pay many of your pre-bankruptcy debts. Exceptions exist for particular debts
and liens on property may still be enforced after discharge. For example, a creditor may have the right
to foreclose a home mortgage or repossess an automobile.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy, often called a “wage earner’s plan,” allows individuals with regular income to restructure their debts into an affordable repayment plan lasting three to five years. Unlike Chapter 7, which liquidates assets to pay creditors, Chapter 13 lets you keep your property while catching up on missed mortgage or car payments and consolidating unsecured debt into manageable monthly payments.
Choosing Chapter 13 can be a powerful tool for stopping foreclosure, protecting valuable possessions, and creating a structured path toward financial recovery under the guidance of the bankruptcy court.
Some debts are not discharged under the bankruptcy law. Therefore, you may still be responsible to pay and bankruptcy may not discharge:
- Most taxes
- Most student loans
- Domestic support and property settlement obligations
- Most fines, penalties, forfeitures, and criminal restitution obligations
- Certain debts that are not listed in your bankruptcy papers
- Debts arising from fraud or theft
- Debts arising from intentional injuries that you inflicted
- Debts related to death or personal injury caused by operating a motor vehicle, vessel, or aircraft while intoxicated.
Call us and schedule a free consultation with an attorney to discuss your bankruptcy options.
Drew Baskin
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Phone: (904) 544-6864
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