The bankruptcy lawyers at the Law Offices of Gregory Krasovsky provide legal support to businesses and individuals filing for bankruptcy. If you are filing for bankruptcy, it is crucial to have an experienced bankruptcy attorney guide you through this difficult process. If you are ready to take a step towards financial freedom, contact a bankruptcy attorney today to schedule a free consultation.
Sometimes declaring bankruptcy is the best path to financial freedom and security. Even individuals and businesses who make the right financial decisions might find themselves strangled by debt. At The Law Offices of Gregory Krasovsky, our attorneys will help you or your business eliminate or consolidate debt and help stop foreclosure. For individuals, the most common types of bankruptcy are Chapter 7 and Chapter 13; whereas, businesses generally file for bankruptcy under Chapter 7 or Chapter 11.
- Chapter 7: Known as debt liquidation or straight bankruptcy, allows for the liquidation of non-exempt property for the purposes of paying off the debtor’s unsecured creditors.
- Chapter 11: Known as rehabilitation or reorganization, this form of bankruptcy creates a payment plan to pay back creditors, while retaining crucial assets.
- Chapter 13: Also known as wage earner Bankruptcy, this form of bankruptcy is a payment plan for individuals with regular income to pay back creditors, so long as the amount of debt falls into certain prescribed limits.
The moment that you or your business files for bankruptcy, an automatic stay is granted for the debts and stops all foreclosure actions, including phone calls requesting payment of debt.
Contact our attorneys to schedule a free consultation that will help you effectively and legally bring you closer to financial freedom.
For more information about what we can do for you in the event of a foreclosure, please visit our Foreclosure Law practice area.