BANKRUPTCY

 

Bankruptcy is a legal process provided by federal law to help debtors, whether individuals or businesses, eliminate their debts or repay them with the assistance of the safeguards provided by the bankruptcy court. In short, the Bankruptcy Code seeks to rehabilitate the debtor and allow them to start their financial life anew, free from the debts that may burden them.

 

People mainly opt for the protection offered by the Bankruptcy Code because they face unexpected medical expenses, excessive credit card debts, job loss, and divorce. Apart from being stressful and sometimes traumatic experiences, these events also bring economic difficulties. There are different alternatives to deal with these situations, and we are more than willing to explore them with you before considering whether bankruptcy is right for you.

 

  The Bankruptcy Law provides different mechanisms for different types of debtors, and these mechanisms are identified by the specific chapter of the Bankruptcy Law that governs them.

​