Bankruptcy is a legal process that allows qualified debtors a fresh start. At Jay Perez Law, we understand the mix of emotions that go allow with contemplating bankruptcy and we try to make the process as stress free and as seamless as possible.
Please contact our office with any questions that you may have. If you are being harassed by creditors please note that as soon as a bankruptcy petition is filed, they must cease all collections efforts.
There are different types of bankruptcy. The common
types are: Chapter 7, which is a liquidation of debts; Chapter 13, which is a
repayment of all or partial debts and Chapter 11, which is a reorganization of debts. Chapter 11 is primarily used for businesses;
however, it can be used for consumer debts.
Our office assists clients with Chapter 7 bankruptcy needs. Chapter 7 is designed for those that are experiencing financial difficulty and who do not have the ability to pay their existing debts. These debts usually consist of consumer debts (credit cards, vehicle loan, mortgage, etc.) However, there are certain debts that are non-dischargeable under bankruptcy law. Most taxes and student loan debt are non-dischargeable, as are debts such as child support, fines, criminal restitution and personal injury debts that were caused by operating a motor vehicle while under the influence of alcohol or drugs. Other debts that are not dischargeable are debts resulting from fraud or breach of contract. This list is not exhaustive therefore, if you have any questions related to what may be discharged, please feel free to contact our office.
