Bankruptcy Consultants - Chapters 7, 11, 13
Bankruptcy consultation is a necessary service that is provided to thousands of individuals and businesses through the United States each year. More often than not this task is taken on by law firms who specialize in everything from debt reduction and asset management, to directly dealing with creditors or investors to settle claims and stop harassing phone calls. When looking for a service to assist you in what can be one of the most stressful and time consuming parts of your life you must first determine the nature of your bankruptcy.
The first type is chapter seven; this is the traditional liquidation style bankruptcy that is most often used by individuals and small businesses. In a chapter seven filing, the debtor works with creditors, the courts, and their representatives to produce maximum value for remaining assets. The revenue gained from the liquidation of assets is then distributed to creditors in a court mandated order. Following these proceedings the debt is most often dissolved and in the case of business the firm will cease to exist on public record.