Bankruptcy
Filing for a fresh start in Chapter 7
You are out of money.
Your have no way to repay.
A court appoints a trustee to:
- Liquidate your assets
- Use the proceeds to pay off your company debts
Individuals who file for bankruptcy may keep exempt property like real estate and automobiles.
File for bankruptcy, you are legally released from debt. It is a fresh start. You are free from debt incurred before the bankruptcy filing.
Creditors share the proceeds from asset liquidation. And the court subtracts the value of exempt property from the total.
Chapter 7 services by Jeffrey Howe:
- Evaluate your eligibility to file for Chapter 7
- Evaluate your assets to see which you may keep
- Determine if you can be released from debt to creditors
- Recover property from your bankruptcy
- Negotiate agreements
Filing for reorganization in Chapter 13
You are out of money.
But you can repay if given enough time.
Chapter 13 helps individuals who plan to pay their way out of debt and financial difficulty.
The court helps to create an orderly plan for debt repayment over the course of a few years.
Chapter 13 can prevent foreclosures on residences.
It can restructure tax obligations.
It gives a you a chance to get out of debt through reduced payments.
Chapter 13 services by Jeffrey Howe:
- Protect a creditor’s interests and collateral
- Evaluate a debtor’s plan to get the highest return possible (including an evaluation of purported disposable income)
Contact Jeffrey Howe now for family problems, debt problems, and DUI: 801-831-9177
