Mary E. Green, P.A. has represented debtors in bankruptcy proceedings. Under federal law, bankruptcy protection is available to individuals and businesses, including sole proprietors and corporations. When a situation arises in which an individual or business is unable to pay the bills as they become due, bankruptcy is a legal proceeding that could provide relief from their creditors.
In Chapter 7 bankruptcy, which is sometimes referred to as "straight" bankruptcy, a debtor is allowed to keep certain property pursuant to "exemptions" and then property over the exemption limit is used to pay creditors. In Chapter 13 bankruptcy, which is often called the "wage-earners" plan, a schedule of debts, assets, and income is prepared and a plan is prepared for the debtor, who must have a steady income, to pay back the some or all of the debt. In Chapter 11 bankruptcy, which is often highly complex, businesses restructure their debt through "reorganization" plans with the aim of allowing the business to continue as a going concern.
Additionally, business debtors may be subject to involuntary bankruptcy proceedings; for example, creditors holding a sufficient aggregate of debt can force a debtor into bankruptcy. Such involuntary proceedings often come as something of a surprise and the debtor generally has less planning time and flexibility to manage the bankruptcy context. When that happens, it is important to retain seasoned bankruptcy legal counsel, such as Mary E. Green, P.A. We can help you understand the challenges associated with a "surprise" bankruptcy and will work quickly and effectively to help you reach a satisfactory resolution.
The attorneys at Mary E. Green, P.A. have gained a solid reputation for successfully working on behalf of clients who are facing insurmountable debt. We utilize our considerable knowledge and litigation skills to keep clients up-to-date on trends in the law and employ state-of-the-art technology in case management to ensure that our clients receive efficient results in a cost-sensitive manner.
If you are contemplating filing for bankruptcy or have a question about an ongoing bankruptcy matter, please contact the experienced professionals at Mary E. Green, P.A. to schedule an initial consultation.