BANKRUPTCY attorneys

G. Carlo-Altieri Law Offices, LLC

To qualify for relief under chapter 7 of the Bankruptcy Code, the debtor may be an individual, a partnership, or a corporation or other business entity.

Chapter 13- individuals with regular income

Chapter 11 is typically used to reorganize a business, which may be a corporation, sole proprietorship, or partnership.

Chapter 11- reorganization

which bankruptcy chapter better suits your needs?

A chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years

Each chapter in the Bankruptcy Code provides a different relief. The type of Debtor helps decide which chapter of the Code to pursue. That is the first question that must be addressed in order to provide a course of action that satisfies the Debtor's needs.    

Chapter 7- liquidation