Commercial and Personal Bankruptcies
Bankruptcy is used by both individuals and businesses to rid themselves of debt that can not be paid, clearing their financial obligations. The rules of commercial and personal bankruptcies are different, however, and our expert attorneys can help you to navigate each.
Personal Bankruptcy: Chapter 7 & 13
Chapter 7 bankruptcy is for individuals who have no means of repaying debt they have
acquired, whereas Chapter 13 bankruptcy is for individuals who earn an income and wish
to manage their debt through the creation of a payment plan. Your attorney can help you
to determine the best course of action for your specific needs, and will see you through
the process with the goal of achieving you the best outcome for your situation.
Commercial Bankruptcy: Chapter 7
Like individuals, businesses may also file for Chapter 7, which results in the elimination
of debt, but also the dissolution of the entity. Our experienced attorneys can assess your
case and determine if this option suits you, working to help you to alleviate your debt in
the best way possible.
- Work Out Agreements
- Elimination / Settlement of Second Mortgage
- Loan Modifications
- Debt Settlement