What is Bankruptcy?
Bankruptcy is a legal process designed to provide relief for businesses and individuals who can no longer manage their debts. It provides protection from creditors while creating a structured path to eliminate debt, reorganize it, or repay it over time.
Who we represent
Businesses
Bankruptcy allows a business to:
- Reorganize and continue operating while restructuring debts (Chapter 11, Subchapter V), or
- Shut down in an orderly way and liquidate assets (Chapter 7).
The goal is to preserve value, protect the business, and create a feasible plan for repayment or reorganization.
Reorganize Company Debt Allowing Business To Continue Operating
Shut Down Business in an Orderly Fashion & Liquidate Assets
Individuals
Bankruptcy can:
- Wipe out unsecured debts like credit cards and medical bills (Chapter 7), or
- Create a repayment plan to catch up on mortgages, cars, and other debts (Chapter 13).
It’s meant to give people a fresh financial start when debt becomes unmanageable.
- Eliminate Personal Liability/Responsibility For Qualified Debts
- Structured Repayment Plan To Bring Delinquent Debts Current
