Bankruptcy Practice

We understand that filing for personal bankruptcy protection can be a difficult decision to make. Often, individuals try to find many alternatives to pay for bills before they resolve to the option of bankruptcy. In many cases, the loss of a job, divorce, medical issue, or death of a spouse is the catalyst to these problems.

We understand that these issues can become insurmountable and often happen to honest, hard-working people. Our role is to advise and educate you on all aspects of the chapter 7 bankruptcy process, what debts may be discharged, what ongoing obligations may be reaffirmed or rejected, and what property clients are entitled to keep.

We also advise clients of what types of debts, such as taxes, may not be discharged in bankruptcy.

For a more detailed analysis of Chapter 7 bankruptcy, please visit USCourts.gov

Chapter 11 of the Bankruptcy Code allows companies and individuals to file for a reorganization of their debts. This often involves filing a petition, careful accounting of assets and liabilities, and an interview by the U.S. Trustee's Office.

We will help you create a successful reorganization plan that will be approved by creditors and allow your company a chance of recovering and becoming profitable again.

Our practice has worked with a wide range of commercial clients from small businesses to very large, complex cases. We will guide you through the filing process and reorganization plan of chapter 11 bankruptcy. We work directly with creditors and their representatives to seek required approvals.

Chapter 12 of the Bankruptcy Code provides reorganization opportunities to those individuals who qualify as "family farmers".

Farming bankruptcies often involve speaking with banks and other lenders to help restructure your debt and obtain post-bankruptcy loans. As is the case in many other bankruptcy filings, a workable finance plan is often a critical element in returning your farm to profitable operations.

Below is some of the information required for farmers to file:

• Tax returns
• Farm plan proposals
• Notes and security instruments
• Lease agreements
• Purchase contracts
• ASCS statements
• Legal descriptions and homestead designations
• Equipment lists
• Appraisals for land and equipment

Our goal is to develop a comprehensive, workable plan that will allow you to return to a profitable operation. We work with you to help create realistic expectations throughout the entire process of chapter 12 bankruptcy.

Chapter 13 bankruptcy provides a way to avoid the immediate effects of Chapter 7. This requires that you prepare and file a plan (3 to 5 years duration) that allows you to restructure your debts by paying a monthly payment to a Trustee. Debtors whose income is too high for Chapter 7 often choose Chapter 13 bankruptcy as an alternative option.

Debtors can also choose Chapter 13 if they want to retain property (such as their house or car) and make payments through the plan. The payments made in a Chapter 13 plan are based upon your disposable income; that being: income minus reasonable living expenses.

To read a very thorough analysis of the Chapter 13 bankruptcy process visit USCourts.gov.