Bankruptcy Law Attorneys
If you are contemplating filing for bankruptcy, let a bankruptcy lawyer help you during this precarious time and provide you with all the options available to successfully move forward.
Bankruptcy law is a matter placed under Federal jurisdiction that includes both federal bankruptcy and state insolvency laws and regulations as they apply to individuals, organizations, and businesses. After a bankruptcy has been filed the court administers the property and assets of a debtor for the benefit of creditors.
The constitution of the United States gives power to Congress to enact "uniform laws on the subject of bankruptcies throughout the United States" (Article I, Section 8). Congress enacts laws governing bankruptcy in the form of a Bankruptcy Code. The most common types of bankruptcy for individuals are Chapter 7 (basic liquidation) and Chapter 13 (rehabilitation with a payment plan for individuals with a regular source of income).
Although federal law controls bankruptcy laws, State laws play an essential role when the validity of claims and exemptions are in question. Therefore, bankruptcy laws can not generalized across state lines and it becomes essential that you are well informed of all the bankruptcy laws in your State.
A bankruptcy lawyer can help you in addressing issues with liens, credit problems, and even collection companies. A wide variety of circumstances can place anyone in a difficult financial situation that may require a bankruptcy filing. During this time let a bankruptcy lawyer help you in making a step toward the right direction and a fresh new start.