Bankruptcy

Sacramento Bankruptcy Attorney

The United States Bankruptcy Code provides a pathway to a fresh start for honest debtors. Gone are the days of debtors' prison, and gone are the days when people were forced to carry the stress and anxiety of unmanageable debt for the rest of their lives. Bankruptcy helps people by either liquidating assets to pay debts, wiping debt out completely, or restructuring debt on a manageable payment plan.

Individuals may file under either Chapter 7 or Chapter 13 of the bankruptcy code. A Sacramento bankruptcy attorney can explain which, if any, petition is appropriate for you. Businesses may file under Chapter 7 to liquidate entirely, or under Chapter 11 to reorganize their debt.

Other less common bankruptcy petitions exist for people in unique situations. A municipality (a city, a town, or even a school district) can file for bankruptcy under Chapter 9. Family farmers and fishers may be eligible under Chapter 12. And in cases where parties are from different countries, those parties may look to relief under Chapter 15.

Consulting with a Sacramento bankruptcy attorney is strongly recommended. Bankruptcy has many long-term consequences for individuals and businesses. Making material errors on your bankruptcy petition can risk your petition being denied, or even expose you to potential criminal liability. And because the bankruptcy code can be complicated, it is important you fully understand all of your options before making such an important decision.