Despite the dramatic change in Bankruptcy law in 2005, bankruptcy remains a tool available to the majority of people who are experiencing financial difficulties. The firm has helped hundreds of people obtain relief from creditors and debt through the bankruptcy process. The two primary avenues of bankruptcy relief are a Chapter 7 or a Chapter 13. A brief description of each chapter follows:
CHAPTER 7
The majority of cases filed are a chapter 7 bankruptcy. This is also known as a "total bankruptcy" or a "clean slate bankruptcy." The chapter 7 allows those who are eligible to receive a discharge from their debts and receive a fresh start. A Chapter 7 case allows you to keep or reaffirm your most important debts including homes and cars.
CHAPTER 13
Filing a Chapter 13 is a filing in which you make a proposal to the court and your creditors in regard to how you intend to pay your debts. Chapter 13 cases are used when people are behind in payments on homes and/or automobiles.
Seeking bankruptcy relief is a difficult decision and we make every effort to make the process as streamlined as possible. If you would like to discuss you situation with us please call us at 866-948-DEBT (3328) or send an e-mail to info@canupplaw.com.
The firm is partnered with CreditInfo net to allow clients to satisfy all the educational and due diligence requirements required under the 2005 Bankruptcy Code on-line.