1. Top Tier Bankruptcy Service at an Affordable Low Cost. Our law firm has been around for many years and we have filed well over 1000+ bankruptcy cases with over 99% success rate.  Finding a bankruptcy law firm you can trust can be difficult. We have heard countless horror stories from our clients. Rest assured that we will handle your case with care and skill.

In Chapter 7, a debtor surrenders non-exempt property to a bankruptcy trustee, who then liquidates the property and distributes the proceeds to the debtor's unsecured creditors. In exchange, the debtor is entitled to a discharge of some debt. However, the debtor is not granted a discharge if guilty of certain types of inappropriate behavior (e.g., concealing records relating to financial condition) and certain debts (e.g., spousal and child support and most student loans). Some taxes are not discharged even though the debtor is generally discharged from debt. Many individuals in financial distress own only exempt property (e.g., clothes, household goods, an older car, or the tools of their trade or profession) and do not have to surrender any property to the trustee.[43] The amount of property that a debtor may exempt varies from state to state (as noted above, Virginia and Maryland have a $1,000 difference.) Chapter 7 relief is available only once in any eight-year period. Generally, the rights of secured creditors to their collateral continues, even though their debt is discharged. For example, absent some arrangement by a debtor to surrender a car or "reaffirm" a debt, the creditor with a security interest in the debtor's car may repossess the car even if the debt to the creditor is discharged.
It can be hard to admit you need help getting out of debt, or that you can't do it alone. But that's why our government has bankruptcy laws to protect not only the creditors, but you! If you have a nerve-racking debt-load, it may be time to face financial facts. Perhaps you've been trying to ignore the ringing phone and the pile of unpaid bills that won't go away.
While bankruptcy cases are always filed in United States Bankruptcy Court (an adjunct to the U.S. District Courts), bankruptcy cases, particularly with respect to the validity of claims and exemptions, are often dependent upon State law.[35] A Bankruptcy Exemption defines the property a debtor may retain and preserve through bankruptcy. Certain real and personal property can be exempted on "Schedule C"[36] of a debtor's bankruptcy forms, and effectively be taken outside the debtor's bankruptcy estate. Bankruptcy exemptions are available only to individuals filing bankruptcy.[37]
Often called "straight bankruptcy" or "simple bankruptcy," a Chapter 7 bankruptcy potentially allows debtors to eliminate most or all of their debts over a period of as little as three or four months. In a typical consumer bankruptcy, the only debts that survive a Chapter 7 are student loans, child support obligations, some tax bills and criminal fines. Credit cards, pay day loans, personal loans, medical bills, and just about all other bills are discharged.
Bankruptcy is the legal proceeding involving a person or business that is unable to repay outstanding debts. The bankruptcy process begins with a petition filed by the debtor, which is most common, or on behalf of creditors, which is less common. All of the debtor's assets are measured and evaluated, and the assets may be used to repay a portion of outstanding debt.
Tax refunds you are entitled to receive are considered property in bankruptcy just like money in your bank account. You must disclose any anticipated tax refunds as an asset on your bankruptcy schedules. This means that if you want to keep your refund, you must be able to exempt it. If you can exempt your tax refund in Chapter 7 bankruptcy, you can keep it. 
A trustee in bankruptcy must be either an Official Receiver (a civil servant) or a licensed insolvency practitioner. Current law in England and Wales derives in large part from the Insolvency Act 1986. Following the introduction of the Enterprise Act 2002, a UK bankruptcy now normally last no longer than 12 months, and may be less if the Official Receiver files in court a certificate that investigations are complete. It was expected that the UK Government's liberalization of the UK bankruptcy regime would increase the number of bankruptcy cases; initially, cases increased, as the Insolvency Service statistics appear to bear out. Since 2009, the introduction of the Debt Relief Order has resulted in a dramatic fall in bankruptcies, the latest estimates for year 2014/15 being significantly less than 30,000 cases.

"I can't say enough good things about this law office! Donna and Jenn were extremely patient, responsive and thorough in helping me throughout this entire process. They answered all my questions and kept me informed as to what to expect next. There were never any surprises. I felt confident that things were running smoothly the entire time. Kevin was amazing as well! He was very reassuring before and during my hearing. I felt prepared, and everything played out just as he said it would. I would give 10 stars if I could! I highly recommend these guys! Wonderful staff!"


Chapter 7 bankruptcy is designed for individuals (and married couples) who can’t pay their bills such as credit cards, medical..etc. If your monthly income less your monthly expenses then you’re may eligible for a Chapter 7 bankruptcy. Generally speaking, you will be able to wipe out your debt such as credit cards, medical and dental bills, unsecured personal loans and others. In Chapter 7, you may keep your house, car and no more garnishment. 
Copyright © 2020 MH Sub I, LLC dba Nolo ® Self-help services may not be permitted in all states. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state. Your use of this website constitutes acceptance of the Terms of Use, Supplemental Terms, Privacy Policy and Cookie Policy. Do Not Sell My Personal Information
In Brazil, the Bankruptcy Law (11.101/05) governs court-ordered or out-of-court receivership and bankruptcy and only applies to public companies (publicly traded companies) with the exception of financial institutions, credit cooperatives, consortia, supplementary scheme entities, companies administering health care plans, equity companies and a few other legal entities. It does not apply to state-run companies.
It can be hard to admit you need help getting out of debt, or that you can't do it alone. But that's why our government has bankruptcy laws to protect not only the creditors, but you! If you have a nerve-racking debt-load, it may be time to face financial facts. Perhaps you've been trying to ignore the ringing phone and the pile of unpaid bills that won't go away.
A bankruptcy attorney can help you manage personal or business debts you are unable to pay. Bankruptcy laws allow people and businesses to (1) get a “fresh start” by relieving most debts; and (2) repay the money owed to all creditors as fairly as possible. When you file for bankruptcy protection, all other legal actions against you are put on hold. Creditors cannot sue you, garnish your wages, repossess your car or home entertainment system, or start or continue with a foreclosure action against your home. There are different types of bankruptcy filings and each has its own advantages. Since bankruptcy can significantly impact your future purchasing power and credit rating, you should see a bankruptcy attorney to make sure the benefits of filling bankruptcy outweigh the consequences.
In contrast to Chapter 7, the debtor in Chapter 13 may keep all property, whether or not exempt. If the plan appears feasible and if the debtor complies with all the other requirements, the bankruptcy court typically confirms the plan and the debtor and creditors are bound by its terms. Creditors have no say in the formulation of the plan, other than to object to it, if appropriate, on the grounds that it does not comply with one of the Code's statutory requirements.[56] Generally, the debtor makes payments to a trustee who disburses the funds in accordance with the terms of the confirmed plan.
Following the soar in insolvencies in the last decade, a number of European countries, such as France, Germany, Spain and Italy, began to revamp their bankruptcy laws in 2013. They modelled these new laws after the image of Chapter 11 of the U.S. Bankruptcy Code. Currently, the majority of insolvency cases have ended in liquidation in Europe rather than the businesses surviving the crisis. These new law models are meant to change this; lawmakers are hoping to turn bankruptcy into a chance for restructuring rather than a death sentence for the companies.[58]
In 2011, the Superintendent of bankruptcy reported that trustees in Canada filed 127,774 insolvent estates. Consumer estates were the vast majority, with 122 999 estates.[26] The consumer portion of the 2011 volume is divided into 77,993 bankruptcies and 45,006 consumer proposals. This represented a reduction of 8.9% from 2010. Commercial estates filed by Canadian trustees in 2011 4,775 estates, 3,643 bankruptcies and 1,132 Division 1 proposals.[27] This represents a reduction of 8.6% over 2010.
Chapter 7 bankruptcy is designed for individuals (and married couples) who can’t pay their bills such as credit cards, medical..etc. If your monthly income less your monthly expenses then you’re may eligible for a Chapter 7 bankruptcy. Generally speaking, you will be able to wipe out your debt such as credit cards, medical and dental bills, unsecured personal loans and others. In Chapter 7, you may keep your house, car and no more garnishment. 
Median income is set by the US Trustee and determined based on household size. In Florida, as of May 1, 2018 median income is as follows: Household of 1 -- $48,000; Household of 2 -- $58,960; Household of 3 -- $65,278; Household of 4 -- $76,953; Household of 5 -- $85,353; Household of 6 -- $93,753; Household of 7 -- $102,153; Household of 8 -- $110,553; Household of 9 -- $118,953; Household of 10 -- $127,353. Source: https://www.justice.gov/ust/means-testing
A Bankruptcy Trustee (in most cases, the Official Receiver) is appointed to deal with all matters regarding the administration of the bankrupt estate. The Trustee's job includes notifying creditors of the estate and dealing with creditor inquiries; ensuring that the bankrupt complies with their obligations under the Bankruptcy Act; investigating the bankrupt's financial affairs; realising funds to which the estate is entitled under the Bankruptcy Act and distributing dividends to creditors if sufficient funds become available.
The Arizona bankruptcy attorneys at My AZ Lawyers, our Mesa, Arizona based bankruptcy law firm believes in affordable, stress-free bankruptcy representation. The dedicated Arizona bankruptcy attorneys in Mesa pledge to give each client compassionate, aggressive, non-judgmental representation while filing for chapter 13 bankruptcy, filing an emergency bankruptcy or filing chapter 7 bankruptcy in Arizona.

How to File for Chapter 7 Bankruptcy provides clear, user-friendly information and all the forms you need to get through the entire bankruptcy process. The book and the local resources you'll find on LegalConsumer.com are a perfect combination. The book is designed to work with LegalConsumer.com's means test calculator and lists of Pennsylvania exemption laws, which determine what property you'd get to keep in bankruptcy.


Copyright © 2020 MH Sub I, LLC dba Nolo ® Self-help services may not be permitted in all states. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state. Your use of this website constitutes acceptance of the Terms of Use, Supplemental Terms, Privacy Policy and Cookie Policy. Do Not Sell My Personal Information
Also, all Chapter 7 cases require you to fill out extensive bankruptcy forms, research exemption laws (to protect property), and follow all local court rules and procedures. If you aren’t comfortable doing the work—and assuming the risk—consult with a bankruptcy lawyer. If you’d like to file on your own, consider using a good bankruptcy self-help book.
Generally, a trustee sells most of the debtor's assets to pay off creditors. However, certain debtor assets will be protected to some extent by bankruptcy exemptions. These include Social Security payments, unemployment compensation, limited equity in a home, car, or truck, household goods and appliances, trade tools, and books. However, these exemptions vary from state to state.
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Before a consumer may obtain bankruptcy relief under either Chapter 7 or Chapter 13, the debtor is to undertake credit counselling with approved counseling agencies prior to filing a bankruptcy petition and to undertake education in personal financial management from approved agencies prior to being granted a discharge of debts under either Chapter 7 or Chapter 13. Some studies of the operation of the credit counseling requirement suggest that it provides little benefit to debtors who receive the counseling because the only realistic option for many is to seek relief under the Bankruptcy Code.[45]
After meeting with a bankruptcy lawyer, you can expect to feel a great sense of relief (it’s wonderful knowing that a solution is in sight) and want to get the process started. Many people who don’t have the funds turn to friends and family—and sometimes even employers—and find most understanding when it comes to a request for help with bankruptcy fees. It’s likely because it’s cheaper to help someone fix a financial problem once and for all, rather than to help out on an ongoing basis.

How to File for Chapter 7 Bankruptcy provides clear, user-friendly information and all the forms you need to get through the entire bankruptcy process. The book and the local resources you'll find on LegalConsumer.com are a perfect combination. The book is designed to work with LegalConsumer.com's means test calculator and lists of Pennsylvania exemption laws, which determine what property you'd get to keep in bankruptcy.


Chapter 12: Chapter 12 applies to “family farms” and “family fishermen” and gives them a chance to propose a plan to repay all or part of their debts. The court has a strict definition of who qualifies and it’s based on receiving regular annual income as a farmer or fisherman. Debts for individuals, partnerships or corporations filing for Chapter 12 can’t exceed $4.03 million for farmers and $1.87 for fishermen. The repayment plan must be completed within five years, though allowances are made for the seasonal nature of both farming and fishing.
Affordable debt relief in Glendale, Arizona is only a phone call away.  Call our Arizona bankruptcy attorneys today.  Are you struggling to make ends meet in Glendale or Avondale, Arizona?  Do calls from creditors seem to be never-ending?  Are you scared to get your mail because of all the demanding and late bills?  If your financial situation seems hopeless, contact our dedicated Glendale bankruptcy attorneys today and find out how easy it is to get on the road to a “Fresh Start.”
Before a consumer may obtain bankruptcy relief under either Chapter 7 or Chapter 13, the debtor is to undertake credit counselling with approved counseling agencies prior to filing a bankruptcy petition and to undertake education in personal financial management from approved agencies prior to being granted a discharge of debts under either Chapter 7 or Chapter 13. Some studies of the operation of the credit counseling requirement suggest that it provides little benefit to debtors who receive the counseling because the only realistic option for many is to seek relief under the Bankruptcy Code.[45]

Chapter 11:This is designed for businesses. Chapter 11 is often referred to as “reorganization bankruptcy” because it gives businesses a chance to stay open while they restructure the business’ debts and assets so it can pay back creditors. This is used primarily by large corporations like General Motors, Circuit City and United Airlines, but can be used by any size business, including partnerships and in some rare cases, individuals. Though the business continues to operate during bankruptcy proceedings, most of the decisions are made with permission from the courts.


If you file for personal bankruptcy under Chapter 7 a so-called “automatic stay” is placed on all your creditors, including the foreclosing lender, by the court. In fact, Chapter 13 bankruptcy is actually designed to stop foreclosure and may provide you with the protection and relief you need to stay in your home while you catch up on your mortgage. 
Clients who typically choose this type of debt relief have fallen behind on their mortgage, car payments, income taxes or other obligations. Or they may not qualify for Chapter 7 relief. They want to keep their property, but need additional time to catch up. Chapter 13 provides a means of paying tax and other non-dischargeable debt over time, often without interest or penalties.
Relief under Chapter 13 is available only to individuals with regular income whose debts do not exceed prescribed limits.[55] If the debtor is an individual or a sole proprietor, the debtor is allowed to file for a Chapter 13 bankruptcy to repay all or part of the debts. Secured creditors may be entitled to greater payment than unsecured creditors.[53]

All bankruptcy cases in the United States are handled through federal courts. Any decisions over federal bankruptcy cases are made by a bankruptcy judge, including whether a debtor is eligible to file or whether he should be discharged of his debts. Administration over bankruptcy cases is often handled by a trustee, an officer appointed by the United States Trustee Program of the Department of Justice, to represent the debtor's estate in the proceeding. There is usually very little direct contact between the debtor and the judge unless there is some objection made in the case by a creditor.
In Canada, bankruptcy always means liquidation. There is no way for a company to emerge from bankruptcy after restructuring, as is the case in the United States with a Chapter 11 bankruptcy filing. Canada does, however, have laws that allow for businesses to restructure and emerge later with a smaller debtload and a more positive financial future. While not technically a form of bankruptcy, businesses with $5M or more in debt may make use of the Companies Creditors' Arrangement Act to halt all debt recovery efforts against the company while they formulate a plan to restructure. 
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