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More Americans than ever are struggling with large amounts of debt. If you are among them, you may be wondering if you will ever be able to regain financial stability. It can be very difficult just to meet daily expenses while credit card or mortgage bills keep arriving, and the interest you owe increases. The good news is that there are ways to climb out of debt.

How can I help you?

BryanDBoyd

My name is Bryan Boyd.

If you are concerned about your business or family’s financial future, I can help you find the solutions you need. My practice areas include:

  • Consumer Bankruptcy
  • Business Bankruptcy
  • Debt Negotiation

I can also answer your questions and address your concerns regarding:

  • Chapter 7
  • Chapter 11
  • Chapter 13

Bankruptcy Options

Making the decision to file for bankruptcy is not an easy one. It is important to understand the different types of bankruptcy and the process of emerging from financial struggles.

Chapter 7 is commonly used by persons who are looking to discharge unsecured debts like credit cards, personal loans, and other liabilities. It is sometimes referred to as “straight bankruptcy” and usually involves the liquidation of certain assets by a court-appointed trustee to satisfy some of the applicant’s debts.

Chapter 13 usually involves significant restructuring of personal debts in order to repay creditors under more favorable terms. This may be the best option for debtors who have a reliable source of income and wish to hold onto important assets like homes, vehicles, and important property.

Businesses that are struggling to repay creditors may turn to Chapter 11. This typically allows for a business to reorganize its financial structure and continue to operate while repaying it’s debts. The company may be required to sell off some of its assets, and if that is not enough to repay creditors, it may ultimately be forced to close its doors.

Why File for Bankruptcy?

It is perfectly understandable to feel reluctant about filing for bankruptcy. It is not an easy process, and there is a certain amount of stigma attached to it. However, depending on your circumstances, it may also be your best chance of restoring your credit while keeping some of your most important assets.

If you choose to file for bankruptcy, you will likely be granted an automatic stay. This is a court order that prevents creditors from taking action against you while you sort out your financial issues. You may be able to postpone or even prevent foreclosure, lawsuits, and other problems.

Contact me

To ask me about bankruptcy visit this page.