Our expert bankruptcy attorneys help individuals and small businesses in financial distress
Individuals
The three main reasons people get into financial trouble are divorce, lack of insurance, and loss of employment. Many people do not understand that some of their assets, such as home equity, retirement accounts, and household goods, cannot be taken by their creditors, whether bankruptcy is filed or not. It’s important to speak with a bankruptcy attorney before selling or mortgaging assets that you could keep regardless.
Some types of debts cannot be wiped out in bankruptcy such as family support obligations, student loans, and debts incurred by fraudulent conduct. When financial troubles arise, many rely on credit cards to get through. Don’t just give up when threatened by collection agencies. Chapter 7 bankruptcy gives people a fresh start.
Small Businesses
Small businesses are the backbone of our national economy, but they are not exempt from experiencing financial difficulties from time to time. Most financial obligations of small businesses are guaranteed by the owners of those businesses. Legal advice may help with a “workout” with the business creditors, or Chapter 7 bankruptcy for the business owners.
Creditor’s Rights
Creditors who are owed money should also seek legal help, whether facing Chapter 11 (corporate reorganization), Chapter 12 (farmer’s bankruptcy), or Chapter 13 (individual wage-earner plan) bankruptcy cases. It is important for creditors to know their rights and make informed decisions to maximize the potential recovery of the amounts owed. It’s important that creditors get help early so that they don’t miss important court deadlines.
Our law firm has represented businesses, banks, and individuals who are owed money – sometimes by just giving brief legal advice, and other times through complicated court proceedings. Contact a Hale Skemp bankruptcy attorney to discuss your rights.