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Bankruptcy (Continued)
In general, Chapter 7 bankruptcy is also known as liquidation. In the typical Chapter 7 bankruptcy, a trustee collects the non-exempt property of the debtor, converts the property to cash, and distributes the cash to the creditors. In contrast, Chapters 13 of the Bankruptcy Code allows for debtor rehabilitation, the debtor generally retains their assets and property and makes payments to creditors through the trustee pursuant to a court approved plan. For more information and a free consultation on whether or not bankruptcy is right for you call our office Monday through Friday, 8:30 a.m. to 6:00 p.m. at (954) 418-5499 or to have us contact you.
Bonnie L. Canty, ESQ
Certified Financial Counselor
NACBA and NACA Member 20 years experience
representing consumers and handling debt
related issues
Phone: 954-418-5499
Fax: 954-414-4309
