If you are struggling financially and creditors are harassing you, filing for bankruptcy can provide you immediate relief. Bankruptcy laws prevent creditors from harassing you, repossessing your vehicle, garnishing your wages, seizing your bank accounts and foreclosing on your home. Filing a Chapter 7, Chapter 11 or Chapter 13 case could be the first step toward taking control of your finances and rebuilding your credit. At M. Cabrera & Associates, PC, we know how to deal with insolvency, and we guide you to a fresh financial start.
Filing for bankruptcy protection is an important decision. The law is complex, and the bankruptcy procedures can be confusing. It is important to discuss your options with a qualified debtor's attorney
to determine whether you should file:
— In a typical Chapter 7
filing, the debtors discharge or eliminate most or all debts and keep most of their assets. Chapter 7 is the most common type of bankruptcy for consumers.
— Chapter 11 is used mainly by corporations that wish to stay in business and reorganize their debts. Under rare circumstances, individuals who don't qualify for either Chapter 7 or Chapter 13 may be able to obtain relief under Chapter 11.
— In a typical Chapter 13, the debtors keep most of their assets and pay back some or all debts over a period of three to five years under a plan of reorganization.
At M. Cabrera & Associates, we review your individual circumstances and help you determine which type of bankruptcy would be the most beneficial to you and your family.