Chapter 11 Bankruptcy
For Families & Individuals
Chapter 11 bankruptcy has become an efficient and popular option for both businesses and individuals to overcome debt challenges. Most Chapter 11 cases are too costly for consumer debtors but are an option for those who can afford it. Filing for Chapter 11 bankruptcy allows the debtor to create a repayment plan, which must be approved and regulated by the court.
Others Types of Bankruptcy For Families & Individuals
Deciding whether or not to file for bankruptcy is a serious decision. There are pros and cons. SGWM’s bankruptcy attorney, Brad Patten, excels at communication and helping you make an informed decision. If you decide to bankruptcy is right for you, we will ensure that you file under the correct chapter and be with you throughout the entire process.
Top Benefit: Protect your household possessions.
Chapter 7 bankruptcy is one of the most common types of personal bankruptcy. It is often a viable option for individuals who are facing financial difficulties and unable to repay their debts. One of the primary advantages of Chapter 7 bankruptcy is that certain properties that are deemed essential by the court are exempt from liquidation.
Top Benefit: Repay debt with an affordable payment plan.
Much like Chapter 11 bankruptcy, Chapter 13 allows debtors to repay their debts over time through a court-approved plan. However, Chapter 13 is reserved for individuals with stable incomes who fall within a specific debt limit. SGWM will review your financial situation and work with you to determine the best course of action.
Bradley J. Patten
Brad J. Patten joined Smith, Gilliam, Williams & Miles in 1989 and has an extensive background in bankruptcy and workers compensation law. As a court-appointed Chapter 7 trustee since 1997, Mr. Patten works with debtors and creditors to guide them through the complex process of bankruptcy.