Consumer Bankruptcy Attorney

Bankruptcy can be a complicated and intimidating process. Many questions should be answered before you move forward with this important decision. With Jeffrey E West, P.C., you get an experienced and dedicated bankruptcy lawyer who will help you through your bankruptcy situation. We help clients with bankruptcy problems, including Chapter 7 bankruptcy, Chapter 13 bankruptcy, and bankruptcy litigation and appeals.

Contact us to schedule a free initial consultation. Our practice is devoted exclusively to bankruptcy matters in order to provide the high quality representation you deserve.

Bankruptcy - An Overview

In general, bankruptcy involves a creditor and a debtor. Either the debtor wishes to discharge the debts owed or to reorganize the debt into a plan that would allow for the continuation of a business enterprise. If debtor wishes to resolve debt by creating a payment plan with their creditors, a plan is created, supervised and administered by a Bankruptcy Court through the assignment of a United States Trustee. The trustee supervises the assets of the debtor.

The primary purpose of bankruptcy is to deal with debts that cannot be paid immediately, ever, or without some sort of court-monitored plan. Either an individual or business debtor will initiate bankruptcy. In rare cases, a creditor will initiate a bankruptcy proceeding so as to secure some form of payment or a plan that has judicial approval. Federal law governs bankruptcy proceedings, however, state law governs some aspects of a creditor/debtor relationship. The proceedings are within the United States District Courts and are governed by Title 11 of the United States Code.
If you are considering filing for bankruptcy you should consult an attorney. Bankruptcy lawyers are an excellent resource for this information. continues...

Liquidation Bankruptcy/Chapter 7

The primary purpose of the Chapter 7 filing is to discharge all debts through the liquidation of assets. However, Chapter 7 bankruptcy does not discharge all debts. For example, child support and alimony are not discharged. Most tax debt and student loans are also not effected by the Chapter 7 filing. There is also a presumption of fraud in regard to some credit card debt that would ordinarily be discharged. This would include last minute purchases and charges before filing for bankruptcy. Debts incurred by fraud are not dischargeable. continues...

Chapter 11 and 13 Bankruptcies

Most publicly and closely held companies choose to file bankruptcy under either Chapter 11 or 13. Under both, the company can continue to transact business, does not have to sell off assets, and in some cases may still qualify to have their securities traded publicly. The primary difference between Chapter 13 and Chapter 11 bankruptcies is the debt amount qualification. To qualify for Chapter 13 bankruptcy, the debtor must have either less than $871,550 in secured debt (real estate, home, car) or less than $269, 250 in unsecured debt (most credit cards). The next difference is the greater complexity of the proposed repayment plan in a Chapter 11 filing. The complexity stems from the fact that the debt may be much greater than in a Chapter 13 filing and the company may be a much larger entity with publicly traded securities and many different operating divisions. continues...

Bankruptcy and the Publicly Owned Company

Chapter 7 bankruptcy is the most drastic step offered to a company that is experiencing financial difficulties. It is the most severe because the company will no longer be operational. Chapter 7 bankruptcy requires that all of the company's assets and liabilities be evaluated under the supervision of a bankruptcy court with disclosure to creditors. The company is effectively asking the court to discharge all debt; in exchange the company will liquidate all assets and disburse payments. continues...

Keeping a Business Running After A Chapter 13 Bankruptcy

Chapter 13 bankruptcy is the most common choice for smaller business that wish to keep operating while debt issues are resolved. The main benefit of Chapter 13 bankruptcy over Chapter 7 is that nothing needs to be liquidated to satisfy creditors. The first step is to determine if the company is qualified for Chapter 13 bankruptcy. continues...

Bankruptcy Resource Links

Legal Information Institute
This page is maintained by the Cornell University Law School. The page provides general information on legal topics including bankruptcy.

American Bankruptcy Institute
This link is dedicated to bankruptcy issues. A reader could find both general and detailed information.

American Bar Association
This page is maintained by the American Bar Association. It provides general information on a variety of legal subjects.

BankruptcyAction.Com
Free information on all aspects of bankruptcy.

More Resources