Stop Creditor Harassment

Bankruptcy can be a devastating blow to an individual, a small business, or a multi-million dollar corporation. The allocation of funds, the audits, the creditor claims, and the claiming of assets may be too much for a single individual to handle. Let a Bankruptcy Lawyer help you to set your assets in order and smoothly take care of the files for bankruptcy.

Bankruptcy lawyers usually specialize either as debtor’s counsel or as creditor’s counsel. If you’re having credit problems or are looking to file bankruptcy, you’re definitely going to want a lawyer who has expertise as debtor’s counsel.

Joel K Uher handles two types of bankruptcy filings:

Chapter 7 – Chapter 7 is the Bankruptcy Code’s “liquidation” chapter. It is sometimes referred to as “straight bankruptcy.” This is mainly used by individuals who wish to free themselves from debt in a simple and inexpensive manner. It can also be used by businesses to liquidate and terminate their businesses. Any filing under Chapter 7 may result in the loss of property.

Chapter 13 – Chapter 13 is the Bankruptcy Code’s “adjustment” chapter. It is sometimes referred to as a “wage earner” chapter, even though it is available to individuals with regular income from any source, not just wages. A particular advantage of chapter 13 is that it provides individual debtors with an opportunity to save their homes from foreclosure by allowing them to “catch up” past due payments through a payment plan. There is also a special provision that protects third parties who are liable with the debtor on “consumer debts,” including co-signers. Finally, chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under chapter 13 protection.

Have questions about your bankruptcy options?
Call Joel K Uher at 916.686.9414 to set up a FREE initial consultation!