Bankruptcy

Roy D. Cole has been an attorney since 1999 and has expertise in bankruptcy law. In order to determine which Bankruptcy Chapter is best for your situation, you need to talk to an attorney who understands the intricacies of Bankruptcy Law and has successfully proven his ability to help people in financial distress.

Bankruptcy is a legal procedure initiated by an individual or a business that cannot pay its debts and seeks to have the debts discharged or reorganized by the courts. The three most common types of bankruptcy proceedings are Chapter 7 individual petitions, Chapter 11 business reorganization and rehabilitation petitions, and Chapter 13 wage earners' plans.

Bankruptcy law is a way for you to get help with debts. It can help you find a new beginning. People often file bankruptcy when they find themselves in a financial situation where their debts have become overwhelming and unmanageable. Bankruptcy provides a legal way to seek relief from these burdensome debts. These debts include credit card bills, medical expenses, job loss, or other financial hardships. It offers a fresh start to rebuild and regain control over your financial life.

Bankruptcy can give you peace of mind by wiping out debts. However, it also affects your credit report and credit score. Some debts, like student loans, may not be erased.