What Homeowners and Business Owners Should Know About Chapter 7, Chapter 11, and Chapter 13 Bankruptcy

Bankruptcy attorney

When many people hear the word “bankruptcy,” they might think of the same thing: the loss of all of a person’s assets. However, this isn’t always how bankruptcy works, and many times it can actually help a person far more than hurt them. Liquidating an individual’s or business’s debt in a Chapter 7 bankruptcy, for instance, can end the long and frustrating debt collection process, and a reorganization of bankruptcy in Chapter 11 or Chapter 13 can make paying down debt easier and more manageable.

If you’re considering working with a bankruptcy lawyer to figure out what to do about your debt, it is crucial to understand the differences between Chapter 7, Chapter 11, and Cha Continue reading