Bankruptcy is a viable option for individuals or businesses that have been financially stressed by a prolonged recession and economic challenges. The Vethan Law Firm, P.C. works closely with our clients to obtain the relief they need.
CHAPTER 7 BANKRUPTCY
- Provides you a fresh start
- If you owe more than you can afford may qualify for filing under this section of the Bankruptcy Code.
- Filing Chapter 7 bankruptcy allows you to be discharged from debts completely.
CHAPTER 13 BANKRUPTCY
- Can help you avoid foreclosure of your home.
- Under this section of the bankruptcy code individuals, as well as certain businesses, are allowed to rearrange financial affairs and repay a portion of their debts over a period of time.
- This is typically done to help get you back on your feet.
- Can help you avoid repossession of your home.
CHAPTER 11 BANKRUPTCY
Individuals/Business
- Businesses, or individuals who owe a significant amount of debt, may file under this section of the Bankruptcy Code.
- This section is similar to Chapter 13 of the Bankruptcy Code in that it is a reorganization of the businesses financial affairs.