Federal Bankruptcy Law
What is federal bankruptcy law?
Federal bankruptcy law lists six types of bankruptcy: Chapter 7, Chapter 13, Chapter 11, Chapter 12, Chapter 9 and Chapter 15. Chapter 7, Chapter 13 and Chapter 11 are the most common bankruptcies. The Chapter 12, Chapter 9 and Chapter 15 bankruptcies are less common.
Chapter 7 bankruptcy is the most common form of bankruptcy. Chapter 7 bankruptcy debt relief is the fastest to way to get rid of unsecured debts. Chapter 13 bankruptcy is for individual debt adjustment. Chapter 13 bankruptcy is to repay debts over a three to five year period. Chapter 11 bankruptcy is for business. Learn more about business bankruptcy. Chapter 11 bankruptcy debt relief gives the debtor a breathing spell. Chapter 11 bankruptcy allows the debtor to continue business. Chapter 11 may be filed instead of Chapter 13 if the debtor is not an individual or if the debt exceeds the cap for Chapter 13 bankruptcy.
Chapter 12 bankruptcy is similar to chapter 13 bankruptcy but is for farmers and fishermen. Chapter 9 bankruptcy is similar to Chapter 11 bankruptcy, but it is made for municipalities. Chapter 15 bankruptcy deals with cross-border bankruptcy.
For a free 1/2 hour consultation with our expert bankruptcy lawyer Contact Christie Lee Law Office today about federal bankruptcy law or give us a phone call 209-910-5291
What is Chapter 7 bankruptcy under federal bankruptcy law?
Under federal bankruptcy law Chapter 7 bankruptcy applies to individuals and businesses. Learn more about business bankruptcy. Chapter 7 bankruptcy is the most common form of bankruptcy. Chapter 7 bankruptcy debt relief is the fastest to way to get rid of unsecured debts. Unsecured debts are debts that have been paid with credit cards. Debts can be discharged in a few months and give you a new financial start. Learn more about Chapter 7. Your bankruptcy attorney will tell you which debts can be relieved under Chapter 7 bankruptcy laws.
Call us if you want to know more the federal bankruptcy law.
What is Chapter 13 bankruptcy under federal bankruptcy law?
Under federal bankruptcy law Chapter 13 bankruptcy applies to individuals who do not qualify under chapter 7 bankruptcy laws and rules. Chapter 13 bankruptcy is individual debt adjustment. It is also called individual debt consolidation, or repayment plan. Chapter 13 bankruptcy debt relief is for people who have problems with their mortgage payments, property taxes, or non-dischargeable debts. Chapter 13 allows people who have disposable income to reorganize their debts and repay their creditors within 3 to 5 years. Chapter 13 bankruptcy attorneys are experts in applying chapter 13 bankruptcy laws and rules and helping you keep your property and your assets. Learn more about Chapter 13.
Call us if you want to know more about thefederal bankruptcy law.
What are the mandatory requirements for filing a bankruptcy petition under federal bankruptcy law?
There are strict requirements under federal bankruptcy law for filing a bankruptcy petition. For example bankruptcy credit counseling is a mandatory requirement before you can file a bankruptcy. It is required by law. After completion of bankruptcy credit counseling, the debtor obtains a certificate of credit counseling completion. This certificate is mandatory when filing a bankruptcy petition. A petition without this certificate is not considered as a valid petition by the federal bankruptcy court. Consult your bankruptcy lawyer to find out all the mandatory requirements needed to file a bankruptcy petition.
Want to find out more about the federal bankruptcy law?
We give 1/2 hour free consultations – flexible scheduling
If you would like a free 1/2 hour consultation with our expert bankruptcy lawyer Contact Christie Lee Law Office today or give us a phone call 209-910-5291. Our office is conveniently located and open, 8:00am to 6:00pm. If you would like a weekend appointment, simply call and set one up. We are flexible with our schedule and most importantly want to get your problems resolved.
We have years of experience helping people file for bankruptcy under the US Federal Bankruptcy Law.
We primarily service clients in the Northern California region with our office in Stanislaus County. Many of our happy clients include residents from