Chapter 7 is typically filed by individuals and is often referred to as liquidation bankruptcy. The process allows debtors to discharge most debts, including credit card debt, medical bills and collection agency accounts. When you file Chapter 7, an “automatic stay” goes into immediate effect, which prohibits creditors from harassing you. Blackford & Flohr helps clients file quickly with a plan to protect our clients’ financial futures.

Chapter 13 bankruptcy allows individuals with regular income to develop a plan to repay all or a portion of their debts. A bankruptcy attorney can help you propose a plan that is accepted by the court and ensures that your monthly payment is within your means. Blackford & Flohr provides bankruptcy litigation in Chapter 13 proceedings to help our clients receive the most favorable repayment terms.

Chapter 11 is most commonly filed by businesses, including corporations, partnerships and sole proprietors. Filing Chapter 11 allows the business owner to stay in operation during proceedings, as well as an opportunity to restructure and reorganize debts. Businesses then create a reorganization plan that must be approved by creditors.

A 341 hearing, commonly called a creditors’ meeting, is an informal meeting between the debtor and the court-appointed bankruptcy trustee. During the informal hearing, the trustee may ask questions regarding your bankruptcy and your completed paperwork. This is often the only time you will be required to visit the courthouse. We provide counsel at bankruptcy hearings.

Bankruptcy filing is a complex process, requiring filers to complete a large packet of legal forms. Each type of bankruptcy requires its own set of forms, and additional forms may be required following the initial filing. To prevent delays and dismissal of the case, these forms must be accurate and filed on time. Blackford & Flohr provides accurate and efficient filing preparation, and we file the completed paperwork with the court.