Bankruptcy
Bankruptcy. This is a federal court process designed to help consumers and businesses eliminate debts or repay them under the protection of the bankruptcy court. Bankruptcy can generally be described as a liquidation or reorganization of debt. While filing for bankruptcy is unfortunately seen as the ultimate failure in our culture (misunderstood), the Founding Fathers of our country understood the need to give individuals, families and businesses the protection of federal law to enable recovery from financial hardship. While no one wants to declare bankruptcy, it is not fatal. It is in fact the financial-wellness tool of last resort. While a bankruptcy may remain on your credit report for as long as 10 years, and may prevent the short-term acquisition of credit, the vast majority of individuals and businesses emerge stronger at the end of the process. Using appropriate strategies, credit may be rebuilt within a couple of years enabling the purchase of cars, homes and other life necessities. There are several types of bankruptcy proceedings that you can read about here.
To learn more about the three types of bankruptcy cases we handle, please visit the following links:
