Financially Overwhelmed? We Can Help.
If you have overwhelming debt that is realistically too large to be repaid, filing bankruptcy may provide much needed relief. Bankruptcy laws help honest but unfortunate people by giving them a financial “fresh start” allowing relief from some or all of their debts. Financial distress can be caused by many factors including job loss, loss of a business, economic downturns or illness and it affects all aspects of life.
Restoring Financial Hope.
If you are facing seemingly insurmountable debt, imminent garnishments or foreclosure, Discreet BK can help you explore solutions.
At Discreet BK, we devote ourselves to helping you find the right solution to your unique financial circumstances, to relieve your financial and emotional burdens and improve the quality of your life.
Please call the lawyers at Discreet BK for a complimentary 30-minute consultation to help you decide if bankruptcy will provide the financial relief you seek.
During the coronavirus crisis, we have procedures in place for no contact virtual meetings and will be able to process and file your entire case remotely.
Types of Bankruptcy
Exploring Solutions to Your Debt Problems
The bankruptcy attorneys at Discreet BK address all types of scenarios, from individuals who have fallen behind on credit card bills, businesses that are struggling to pay back loans and individuals who have guaranteed the debts of their businesses or who are struggling with tax debt. The type of bankruptcy that you file will depend on the details of your situation:
Chapter 7 bankruptcy
Chapter 7 is for individuals and businesses who seek to discharge debts and start anew; this option involves the Chapter 7 trustee’s liquidation of your non-exempt assets and distribution of proceeds to your creditors.
Chapter 13 bankruptcy
Chapter 13 bankruptcy permits individuals or sole proprietorship businesses (but not corporations or LLCs) to formulate plans to repay certain debts over a three to five-year period. This option is typically used by people who do not qualify for Chapter 7.
Chapter 11 bankruptcy
Chapter 11 bankruptcy is more complex, and is mainly used by businesses, but is also available for individuals with high income and debt levels. An advantage of Chapter 11 is that you are able to run your business as you plan to pay creditors and restructure.