What is Bankruptcy?

Bankruptcy Law is a federal law created by Congress, which offers certain  protections to consumers and businesses who are unable to effectively manage and pay their debts.

• Bankruptcy protection can be used by consumers to repay debts if they are unable to pay their bills on time.
• Bankruptcy protection can provide a way to pay current bills so that a consumer’s credit can be rebuilt.
• Bankruptcy protection can provide an optimal plan to pay back creditors through liquidation, securing debt, or reorganization.
• Bankruptcy protection can help eliminate debt and put creditor’s fees on hold.
• Bankruptcy protection demands full disclosure.
• Bankruptcy protection requires that you act in Good Faith.
• Bankruptcy can help protect you from lawsuits, creditor harassment, and wage garnishment.