Bankruptcy is a proceeding in which a court administers the estate (the property and other assets) of a debtor for the benefit of creditors.
A debtor (a person or business who owes money to others) may choose to file a bankruptcy proceeding to resolve a hopeless financial situation, or to stave off the collection of debts for a period of time to allow for financial reorganization.

Individuals or businesses may file for bankruptcy. In some cases, a creditor (a person or business that is owed money) may force the filing of a bankruptcy proceeding, although these "involuntary" proceedings are very rare.

What Law Applies to Bankruptcy?

The United States Constitution authorizes Congress to adopt "uniform laws" on bankruptcy. The federal bankruptcy law has two goals:
· To obtain fair treatment for creditors, and
· To obtain a fresh start for both consumer and business debtors involved in bankruptcy proceedings.

Federal bankruptcy law governs bankruptcy proceedings, except, when Congress has chosen to defer to state law.

Our Expertise

  • Chapters 7 &13
  • Collections and repossessions
  • Commercial bankruptcy
  • Consumer bankruptcy
  • Creditors rights
  • Debt discharge
  • Foreclosures
  • Garnishment
  • Reorganization and restructuring
  • Workouts
  • We are a Debt Relief Agency. We help people file for Bankruptcy Relief Under the Bankruptcy Act.