FAQ

Generally speaking, secured, unsecured and priority debts can qualify you for bankruptcy assistance.  Secured debts are loans backed by collateral, which can include property like mortgages or vehicle loans.  Unsecured debts consist of money owed on items like credit cards, medical bills and personal loans.  Priority debts are money owned, such as personal income tax debt, and often must be paid in full and may continue despite bankruptcy discharge.

There are several different types of bankruptcies; however, most clients qualify to file either Chapter 7 or Chapter 13.   Corporations or those with exceptionally high debts do not.  Successfully filing for Chapter 7 will end with the discharging of most unsecured debts, while with Chapter 13 bankruptcy, the debtor must participate in a payment plan to eventually pay back all or part of the unsecured debt.