We represent unfortunate people and businesses who have fallen on hard times and need assistance turning around their financial situation. We offer a wide array of services to assist unfortunate individuals and business with their debt situations.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is for individuals and couples who don't have considerable extra income at the end of each month and for those who don't have substantial assets aside from what they need to live. A chapter 7 bankruptcy case typically lasts 3-5 months and at the conclusion of the case an individual is granted a discharge (which means all their debt is legally forgiven). In a typical chapter 7 case, the individuals don't lose any property and make no payments on their debts.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is often called a "reorganization" bankruptcy. In a chapter 13 bankruptcy the individuals file a plan to restructure their payments to their creditors to something more manageable. This plan of reorganization usually lasts from 3 to 5 years. A chapter 13 filing can help individuals save a home from foreclosure or stop a vehicle repossession, and bankruptcy law provides that many creditors don't need to be paid in full.
Chapter 11 Bankruptcy
Chapter 11 bankruptcies are "business reorganizations" and are a highly specialized area of the law. A well managed chapter 11 bankruptcy can allow a distressed business to strip some of its debt and maintain payments to its important creditors to get itself back on the right track. The specialized nature means there is no typical chapter 11 and reorganizing a business takes an experienced bankruptcy attorney.
Jason Ward Law offers other debt relief services that don't involve bankruptcy such as debt settlements, foreclosure defense, and assistance with mortgage modifications. Many times people who you owe money will take less than they are owed in full satisfaction of the debt if you can prove a hardship. We are experienced negotiators when it comes to settling debts for less than the amounts owed and can help you settle debts when possible.