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Beauparlant Law Offices is ready to assist you immediately with an initial consultation free of charge. All meetings are entirely confidential and will help you to determine whether you require further counsel.
Beauparlant Law Offices
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Gloucester Office: (978) 522-3191
Haverhill Office: 978-560-1583
Newburyport Office: 978-560-1580
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Bankruptcy
A business or an individual can declare bankruptcy once they have ascertained that it has become impossible to pay off one's creditors. It can give you a chance to start over from a financial point of view, as most of debts are relieved after bankruptcy as been filed.
Chapter 7, or liquidation bankruptcy, means that your "estate" – i.e., your assets – is sold in order to pay off your creditors. A reorganization bankruptcy can also involve the selling of assets, but more often than not you can retain a majority of your assets while your creditors' needs are assessed.
Reorganization bankruptcies can be filed under the following guidelines:
- Chapter 9 – municipalities
- Chapter 11 – businesses and individuals with many assets
- Chapter 12 – farmers, fisherman
- Chapter 13 – individuals with steady income
- Chapter 15 – international cases
Contact us today to learn more about your options under the current bankruptcy laws. We're here to help.
I'm sure you have many questions. For a FREE CONSULTATION,Call Beauparlant Law Offices at (978) 522-3191 and I will be more than glad to offer you my advice.