Brannen Law Group PC

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Bankruptcy Debt Relief and Debt Consolidation

Stop lawsuits, garnishments, phone calls, foreclosures and repossessions. Bankruptcy is a way for people or businesses who owe more money than they can pay right now (a "debtor") to either work out a plan to repay the money over time under Chapter 11, 12 or 13, or for most of the bills to be wiped out ("discharged"), as in a Chapter 7 case. While the debtor is either working out the plan or the trustee is gathering the available assets to sell, the Bankruptcy Code provides that creditors must stop all collection efforts against the debtor. When the bankruptcy petition is filed, you are immediately protected from your creditors.

Chapter 7 Bankruptcy Code is know as liquidation or "straight bankruptcy." It is used primarily by individuals who wish to free themselves of debt. The debtor's major interests in a Chapter 7 case are in retaining exempt property and in getting a discharge that covers as many debts as possible.
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Chapter 13 Bankruptcy involves working out a repayment plan with creditors. The purpose of Chapter 13 is to enable financially distressed individual debtors, under court supervision and protection, to propose and carry out a repayment plan under which creditors are paid over an extended period of time. >>View More