BANKRUPTCY LAWYERS

A Bankruptcy Lawyer provides basic information to debtors, creditors, and the general public on different aspects of the federal bankruptcy laws. It also provides individuals who may be considering bankruptcy with a basic explanation of the different chapters under which a bankruptcy case may be filed and answers some of the most commonly asked questions about the bankruptcy process.

Bankruptcy is a federal court process designed to help consumers and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as "liquidation" (Chapter 7) or "reorganization" (Chapter 13).

Under a Chapter 7 bankruptcy, you ask the bankruptcy court to wipe out (discharge) the debts you owe.

Under a Chapter 13 bankruptcy, you file a plan with the bankruptcy court proposing how you will repay your creditors. You must repay some debts in full; others may be repaid only partially or not at all, depending on what you can afford.

When you file either kind of bankruptcy, a court order called an "automatic stay" goes into effect. The automatic stay prohibits most creditors from taking any action to collect the debts you owe them unless the bankruptcy court lifts the stay and lets the creditor proceed with collections.

Bankruptcy Lawyers

• Bankruptcy
• Debt Consolidation
• Personal Loans
• Bad Credit
• Credit Cards
• Debt Reduction
• Debt Management
• Debt Settlement
• Consolidation
• Chaprter 7
• Chapeter 13
• Business Reorganization
• Military Members
• Municipalities
• Farmer & Fisherman Families

Informative Bamkruptcy Videos
US Bankruptcy Court

Bankruptcy Lawyers Online

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Foreclosure

If you have been served with a complaint to foreclosure on your home, your options are limited.  First, you can negotiate with your mortgage company to reinstate the mortgage.  Secondly, you can file under Chapter13.  Thirdly, you can sell your home or attempt to refinance.  Fourthly, you can give up and get out of your home.  Finally, you can fight the foreclosure.

The first two options assume that you can afford your current monthly payment, and selling  or refinacing your home may be impossible if you have little equity or even negative equity.

Many homeowners, especially those with subprime mortgages, can no longer afford the mortgage payments, even if the mortgage were current.  That makes a Chapter 13 bankruptcy possible under the,

Helping Families Save Their Homes in Bankruptcy Act of 2009.

A Bankruptcy Attorney can help, even if you  are behind on your payments, and cannot afford the current monthly payment. As under the new law a Judge in Bankruptcy Court can now modify the principle on your primary residence.

United States Bankruptcy Courts

Bankruptcy cases cannot be filed in state court. Bankruptcy laws help people who can no longer pay their creditors get a fresh start by liquidating their assets to pay their debts, or by creating a repayment plan.

Bankruptcy laws also protect troubled businesses and provide for orderly distributions to business creditors through reorganization or liquidation. These procedures are covered under Title 11 of the United States Code (the Bankruptcy Code). The vast majority of cases are filed under the three main chapters of the Bankruptcy Code, which are Chapter 7, Chapter 11, and Chapter 13.

See the links on the right for more information about debtors, creditors, and different aspects of the federal bankruptcy laws.

The Express To New Opportunity...

Information Source: U.S. Bankruptcy Courts