You tried to keep up with your mortgage and your bills. You were doing all right, but then you or your spouse lost a job or became injured. The bills piled up. Your house or car payments are continuously late. You need to stop a foreclosure or legal action against you. You have unexpected income tax liability. You need help with your debts.

At Alley, Register & McEachern, Grieg Alley and Anthony Register practice bankruptcy law and are here to help you. They understand what you are going through. If you are in financial trouble and are considering bankruptcy, Grieg Alley or Anthony Register provide you with a free consultation and give you options to deal with your debt. Call or contact Alley, Register & McEachern to find out more.

Types of Bankruptcy

Chapter 7
When most people think of bankruptcy, they think of Chapter 7. Chapter 7 is also called a liquidation or “straight” bankruptcy. You keep a certain amount of property, and the rest of your property is sold by the court to pay off your debts. A chapter 7 can in some instances be the quickest and most economical bankruptcy to get a fresh start. However, it could also possibly mean parting with assets that you want to keep.

Chapter 13
Another option is a Chapter 13 bankruptcy. With a Chapter 13, you may be able to keep property that you would otherwise lose in a Chapter 7. We help you propose a plan of reorganization which best suits your needs. In most Chapter 13 bankruptcies, you are not required to pay in full unsecured debts such as credit cards, medical bills or personal loans. This often gives great financial relief and can enable you to pay creditors for property that you want to keep such as mortgage and car loans.

Chapter 11
A Chapter 11 filing is another type of reorganization such as a Chapter 13, except that it is usually used by businesses. Normally this is not a bankruptcy filed by individuals, however, in certain instances it may be the best option, even for individuals.