Our Bankruptcy Services
If you or your business is struggling with debt, our firm can help you obtain debt relief. We help our clients file for the discharge of personal debts through Chapter 7 bankruptcy, as well as the reorganization of debts through Chapter 13 bankruptcy. We also assist businesses in the reorganization of debts through Chapter 11 bankruptcy.
People from all walks of life find themselves in need of debt relief, especially in uncertain economic times and in the midst of personal and family crises. You deserve to know your options for reducing or eliminating your debt, as well as keeping your property. Note: filing for bankruptcy places an automatic stay on creditor actions, so bankruptcy is an effective way of stopping creditor harassment. Our attorneys have extensive experience in these matters. We know the bankruptcy courts and how they tend to address particular issues. Put us on your side today, so we can help you lay the foundation for a stronger financial future.
With offices in Pittsburgh and Bingham Farms, our bankruptcy attorneys represent clients throughout Pennsylvania and Michigan. Schedule a consultation today to explore your options.
Chapter 7 bankruptcy is commonly known as “fresh start” bankruptcy. For Chapter 7, you must pass a means test to qualify to have your debts eliminated or discharged. Chapter 7 removes the burden of heavy medical debt, credit card debt or other loans, so you can start over and rebuild your financial life.
With Chapter 7, certain items of property may be “liquidated,” and the proceeds are used to pay back creditors. However, many items of property may be exempted from liquidation, and you may be surprised by the amount of property you get to keep once your debts are discharged. For example, you may be able to keep a significant amount of equity in your home, as well as other items of property like vehicles, retirement plans, business and work tools, insurance benefits, furniture, appliances, firearms, education savings plans, and more. Our attorneys can help you keep as much property as possible — and emerge on the other side of the process with a fresh financial start.
If a means test shows that you have too much income or too many assets to qualify for Chapter 7, then Chapter 13 bankruptcy may be the option for you.
Chapter 13 bankruptcy is known as “reorganization” bankruptcy. With Chapter 13, you can reorganize your debts and start a feasible repayment plan that lasts between three and five years. Chapter 13 is the appropriate course of action for people who have significant debt but who also have significant income or assets.
Chapter 13 can be a particularly effective debt relief tool for homeowners and small business owners. In some cases, it is even possible to eliminate a second mortgage through a process known as “lien stripping.” If one of your goals is to keep your home, Chapter 13 may be the debt relief option for you.
People who file for Chapter 13 generally get to keep most of their assets that are not deemed to be “luxury” items. “Luxury” property could be extra cars, boats or other items that are not yet paid off. However, with the right legal guidance, it may be possible to keep those types of property also.
Chapter 11 is generally considered to be “business bankruptcy,” but Chapter 11 may also be appropriate for some individuals and married couples with significant assets and debts. In general, Chapter 11 is designed to help businesses rehabilitate their distressed financial situations while keeping the business open.
With Chapter 11, the first objective is to file a reorganization plan that meets the approval of your creditors and the court. When you file a Chapter 11 petition, you become a “debtor-in-possession.” Essentially, you assume the rights and duties of a bankruptcy trustee. A bankruptcy trustee is generally not appointed to a Chapter 11 case unless an interested party shows sufficient cause that a trustee should be appointed.
A committee of unsecured creditors is usually appointed to the Chapter 11 case. This is done to ensure that your reorganization plan is acceptable to the creditors. If Chapter 11 is the appropriate way of addressing your debt situation, our attorneys can help you create an effective reorganization plan and present it to your creditors and the court.
Contact Our Law Firm
If you are seeking skilled and effective bankruptcy representation, our lawyers are here to help. To explore your options, schedule your legal consultation with our experienced bankruptcy attorneys today.