Understanding Bankruptcy

Bankruptcy can be complex, and it is crucial for you to make the right choices before filing, such as which will work best for your situation.

Chapter 7 Bankruptcy

You don’t need to lose it all. If you have unsecured debt, this could help you discharge it with the possibility of keeping your home or vehicle.

Chapter 13 Bankruptcy

This doesn’t mean you don’t need to pay your debts, but it allows for you to discharge them after successfully completing a 3- to 5-year repayment plan.

Chapter 11 Bankruptcy

Often referred to as “reorganization bankruptcy,” it can help if your debt is too big for Chapter 13. This applies to individuals and businesses.

Debtors’ Rights

Due to the complexity of federal laws, you may not understand your rights if you owe a debt. Reynolds Law Corporation has options for you.

Creditors’ Rights

If you’re owed a debt, you need to ensure bankruptcy does not remove your ability to collect what you’re entitled to. Find out more about your rights.