In bankruptcy, a person may restructure or discharge debts. There are two basic types of bankruptcies. In one type, called a Chapter 13 Bankruptcy, the debtor pays the debts off under a payment plan over time. In another type, called a Chapter 7 Bankruptcy, some of the debtor’s assets are sold, the money is paid to the creditors, and the debts are discharged.
As soon as your bankruptcy is filed, an automatic stay goes into effect, and most creditors must stop trying to collect from you. Any debt they are able to collect will be through the bankruptcy court. We can help make sure your creditors do not try to continue to collect from you.