Chapter 13 - Personal Reorganization -Chapter 13 Bankruptcy is used by individuals to reorganize or discharge their debt. Chapter 13 is typically used to stop foreclosure and catch home mortgages up-to-date and to discharge debt. In chapter 13 you may be able to wipe out a second mortgage that is wholly "underwater".
Creditor Representation -creditor’s interests in chapter 7, 11, & 13 cases, including preference and fraudulent transfer litigation.
With the current situation of the United States’ economy, an increasing number of individuals and businesses are finding themselves incurring a large amount of debt. The recession has led people who were previously able to pay all their financial obligations on time to fall behind on their payments. Between the pay cuts and lost jobs, debtors are realizing that their assets are not enough to cover what they owe, nor their day-to-day expenses. Luckily though, there is a solution to help debtors emerge from their financial troubles quickly and smoothly – bankruptcy.
Bankruptcy is a federal process in which a debtor – individual or business – is able to discharge or restructure debts theyare currently unable to pay to their lenders. What was once a process to which a negative stigma was attached by creditors seeking to reclaim what they were owed, bankruptcy has since become a very popular and common solution to many a debtor’s financial woes. Bankruptcy can reduce, if not completely eliminate a person’s debts, freeing them from their financial obligations and affording them a fresh start.
However, there are several intricate processes involved in filing for bankruptcy protection and several chapters of the Bankruptcy Code which may afford protection. Without an experienced legal representative on your side, you may make a critical mistake that can lead you to incur even more debt or even criminal sanctions.Luckily, help is available to all individual and business debtors who have considered filing for bankruptcy protection. If you reside in the Atlanta, Georgia area, turn to bankruptcy attorney Theodore N. Stapleton, P.C. to ensure that your rights are protected and any bankruptcy proceedings are resolved favorably to you.