Olga Zlotnik Law Firm is based in
Scottsdale, Arizona specializing in all areas of bankruptcy, business litigation,
real estate issues and civil litigation. We are focused on debt recovery claims
and advice you on minimizing damage if you are going broke. We specialize in
bringing legal expertise to business owners and cover risk management as well
as other matters associated with businesses.
Bankruptcy can help reorganize the
financial obligations of a person or business, resulting in making the personal
or business to pay back a portion of their debt. It also gives an insolvent
person with legal protection from prosecution by creditors and is aimed at
bringing a fresh start for the person or business in terms of financial
matters.
Chapter 7 Bankruptcy
The most typical form of bankruptcy is
named as “Chapter 7”. It is concerned with liquidating a person’s or business’s
assets and selling them off to generate funds In order to pay back creditors
and discharge the debt. However, there are some assets that stay exempted from
liquation including a person’s car, home, jewelry etc.
Chapter 13 Bankruptcy
This form of bankruptcy is concerned
with debt restructuring but involves liming the amount of debt to be
restructured. It sets up a plan for regular income individuals to pay back all
or part of their debts. The installments can vary from 3 to 5 years depending
on the plan proposed by debtors. During this time frame, the law doesn’t allow
creditors to make efforts to collect their debts.
If you are looking for more
information on Scottsdale bankruptcy attorneys, Scottsdale chapter 7 lawyer or
Scottsdale chapter 13 bankruptcy lawyer, feel free to visit our website or call
+1 480-788-7011 for more details.
Disclaimer: The bankruptcy law services described herein are with respect to
bankruptcy relief under the Bankruptcy Code. We are a debt relief agency. We
help people file for bankruptcy relief under the Bankruptcy Code.
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