Bankruptcy

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Bankruptcy Attorneys – Chapter 7, Chapter 13, and Chapter 11

Bankruptcy is designed to help individuals and businesses gain financial relief, eliminate or restructure debt, and achieve a fresh start. Choosing the right type of bankruptcy is critical, and an attorney from 800 Law Group will walk you through the process step by step.

Chapter 7 Bankruptcy – Liquidation and Fresh Start

Chapter 7, also known as “liquidation bankruptcy,” allows individuals to wipe out most unsecured debts. A trustee may sell non-exempt property to repay creditors, but many people keep essential assets under state or federal exemptions.

Debts Discharged in Chapter 7 Bankruptcy Include:

  • Credit card debt
  • Medical bills
  • Personal loans
  • Utility bills
  • Certain court judgments

Debts Not Typically Discharged:

  • Student loans (except in rare hardship cases)
  • Child support and alimony
  • Certain tax debts
  • Debts from fraud or criminal restitution

Homestead Laws and Keeping Your Home

Many people worry about losing their home in Chapter 7. Homestead exemptions protect a certain amount of equity in your primary residence, which may allow you to keep your property.Rules vary by state, and a bankruptcy attorney in our network will explain how they apply in your case.

Chapter13 Bankruptcy – Repayment and Asset Protection

Chapter 13 is ideal for individuals with regular income who want to keep their home, car, and
other valuable assets. Instead of liquidation, you create a 3 to 5-year repayment plan approved by the bankruptcy court.

Debts Included in Chapter 13 Bankruptcy:

  • Mortgage arrears (catching up on missed payments)
  • Car loans (often with lower interest rates or extended terms)
  • Credit card debt
  • Medical bills
  • Personal loans
  • Certain back taxes

This option is especially effective if you are facing foreclosure or repossession. A Chapter 13 bankruptcy attorney helps you create an affordable repayment plan while stopping collection actions and protecting your property.

Chapter 11 Bankruptcy–Business and High-Debt Reorganization

Chapter 11 bankruptcy is most commonly used by businesses, but it is also available for individuals with substantial assets or debts. It allows businesses to reorganize operations and restructure debt while continuing to operate.

Debts Included in Chapter 11 Bankruptcy:

  • Business loans
  • Commercial leases
  • Secured and unsecured business debts
  • Vendor and supplier contracts
  • Certain personal debts (for high-income individuals)

A Chapter 11 bankruptcy attorney will negotiate with creditors, restructure contracts, anddevelop a court-approved reorganization plan to keep your business running while reducing debtburdens.