A personal bankruptcy is designed for individuals to obtain a “fresh start” and sometimes that is exactly what people need. Unfortunately bad things happen to good people and some people fall on rough times and bankruptcy becomes the only option. When that happens you need an experienced bankruptcy attorney in the Greenville, SC area who will look out for your interest and take an interest in your case personally, rather than simply run you through the system.
Some refer to Chapter 7 as “straight bankruptcy.” With Chapter 7, there is no repayment plan. The advantages with Chapter 7 bankruptcy is that it is usually only takes approximately four months and the attorney fees are lower because there is less work to be done than with a Chapter 13 filing.
When bankruptcy is filed, you must complete very detailed paperwork listing all assets, debts, income, and expenses, which will be filed with the Greenville County Bankruptcy Court. You will also complete a Statement of Financial Affairs (“SOFA”).
Chapter 13 is bankruptcy with a payment plan. This is also referred to as a wage earner plan or reorganization bankruptcy. Under this bankruptcy debtors propose a repayment plan to make installments to creditors over three to five years.
If an out of court settlement doesn’t work, then it may be time to think about a bankruptcy reorganization and a Chapter 11 bankruptcy allows a company to do just that. A business may be able to restructure their debts in order to create a more manageable debt load that can allow them to continue to operate and thrive. If you are a Greenville, SC area business and would like to receive a consultation to explore your options please contact The Law Office of Jason Ward in Simpsonville, SC.
For more information on our bankruptcy services, including, financial workouts, debt settlements, and bankruptcy, give us a call at 864-509-6249 or click here for a Consultation and we will discuss your case and review your options.
It is our desire to provide you the best counsel for your particular need. You have three options: Please feel comfortable to stop by either of our Greenville Law Office locations, conveniently located in Greenville and Simpsonville.
Fill out the Consultation Request Form or email us directly at main@kcwlawoffices.com or stop by our Simpsonville office at 105 S. Maple Street. Simpsonville SC 29681.
