Everyone deserves a second chance. Fortunately, U.S. law allows people to start over by wiping away many of their debts. If you are overloaded with debt and harassed by creditors, find out what your options are from a bankruptcy attorney. The attorney can give you straight answers to your bankruptcy questions and help you relieve the burden of debt.
|Complete our simple
|Receive your free bankruptcy
evaluation from a participating law firm
|A bankruptcy attorney will
handle your bankruptcy filing
Excellent service. Very efficient and fast. Explained everything I need to know...
Antwoine G., Los Angeles, CA
Chapter 7 is one type of bankruptcy procedure designed to eliminate most debts. These procedures are called "chapter 7 bankruptcies" because they are outlined in chapter 7 of the Bankruptcy Code. Chapter 7 bankruptcies are also called "fresh start" or "liquidation" bankruptcies.
Chapter 13 (sometimes called a "wage earner plan") allows an individual to pay his or her debts over an extended period using a court-approved, supervised, and enforced payment plan. Not all creditors need be paid in full and unpaid amounts will be discharged (with some exceptions). Chapter 13 bankruptcy filers help create their own payment plans, which give them three to five years to pay personal debt from their disposable incomes (i.e., whatever is left after necessary expenses, like food and shelter, have been paid). In a Chapter 13 bankruptcy, individuals are often allowed to keep their property.
It depends on which kind of bankruptcy you file. In a chapter 7 bankruptcy, a person must list all of his or her property and debts. There are limits on the amount of property one can keep while still eliminating debt, although there are exemptions for certain types of assets (for example, your house or car). Under chapter 13, you may be able to keep most of your property.
After you have prepared and filed your bankruptcy paperwork, the court clerk will notify all of your creditors of your bankruptcy filing and inform them that they may no longer contact you. The clerk's notice will also include information about your meeting of creditors. If your creditors continue to pursue you after receiving notice of your bankruptcy, they are subject to sanctions by the bankruptcy court.
Questions? Call (800) 773-0888
9 out of 10 customers
would recommend us
to friends and family.
No hourly fees.
Our documents have been
accepted by courts and government
agencies in all 50 states.
PAID ATTORNEY ADVERTISEMENT: This portion of the LegalZoom website is a paid advertisement. It is not a lawyer referral service or prepaid legal services plan. The sole basis for the inclusion of this advertisement is the payment of a fee for certain advertising rights. LegalZoom does not endorse or recommend any lawyer or law firm who advertises on our site. We do not make any representation and have not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. The information contained on this site is not legal advice. Any information you submit through this site may not be protected by attorney-client privilege and may be provided to attorneys for the purpose of determining your need for legal services. All case evaluations are performed by a participating attorney.
To see the attorney in your area who is responsible for this advertisement, please click here. If you live in Alabama, Colorado, Florida, Iowa, Minnesota, Missouri, Montana, Nebraska, New Mexico, New York, South Dakota, Utah or Wyoming, please click here for additional information.
Participating law firms and attorneys help people file for relief under the U.S. Bankruptcy Code. They are federally-designated Debt Relief Agencies. This advertisement and all attorney services may be subject to additional terms and conditions and disclosures required under the U.S. Bankruptcy Code, which are available on the specific website(s) of each participating attorney or law firm. Please visit the website of the participating attorney in your area for more details. Any arrangement made by you and your attorney is strictly between you and them.
LegalZoom is not a federal Debt Relief Agency or a Bankruptcy Petition Preparer, as defined in §§ 101 and 110 of the Bankruptcy Code, respectively. LegalZoom does not receive any portion of any lawyer's or law firm's fees.