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Posted On: July 21, 2010 by Scott Sagaria

How Many Bankruptcy Law Chapters?

A Sacramento bankruptcy attorney discuss bankruptcy chapters..

How Many Bankruptcy Law Chapters?
Where can you find the authority for all the different bankruptcy chapters?

The Bankruptcy Code consists of Chapter 7, Chapter 9, Chapter 11, Chapter 12, and Chapter 13. Each Chapter outlines a goal specific to the filer seeking debt relief.

What are the different Chapters?
Chapter 7 is a liquidation bankruptcy where available assets are liquidated in order to pay creditors. Chapter 9 bankruptcy is a debt adjustment plan for municipalities seeking relief from their creditors. With the housing values falling and budget deficits occurring every year, this Chapter is in the news often. Chapter 11 is a business reorganization where corporations can reject burdensome contracts and propose a plan of reorganization. Chapter 13 is a personal debt adjustment plan. Under 13 filers can propose a plan of reorganization that allows them to repay their debts over 3 to 5 years.

To determine which bankruptcy Chapter is right for you, schedule a free consultation with the attorneys of Sagaria Law.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!


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Posted In: Chapter 11 Bankruptcy , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy

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