We’d like to meet with you about your situation, and get a feeling for the kind of needs you might have. The goal is to get you out of your debt in as little time as possible, and the more we know about your situation, the better plan we can create for you to make that happen. We are committed to your case, through the entire process, and will be here to answer any questions you might have along the way.
Bridegroom & Hayes Law Offices wants to assure you that you’re making a good decision by getting help - too many people won’t, or don’t even know that they can. Contacting us, and putting a qualified, experienced lawyer on your team, means that you are taking the first step in ridding yourself of overwhelming debt problems. Peace of mind, restful nights, and a hopeful outlook are right around the corner!
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Bridegroom, Bruce
Hayes, Raymond
- 39 Years of Experience Each
- Bankruptcy
- Low Fees
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Frequently Asked Questions
We get numerous questions about bankruptcy and how we can help. Below are a few of our most frequently asked questions and their answers.
Will bankruptcy take away all of my debts?
Bankruptcy is a legal process to give you relief from your debt. Without all the legal jargon, in some cases, your debt can be forgiven entirely, in others a payment plan will be developed to repay at least a portion of your debt, and in others some debt may still remain for you to pay in full. Business owners and individuals can both participate in either kind of bankruptcy case. After we consult with you, we can decide with method is best for you, or your business.
What is Chapter 7 Bankruptcy?
This is generally referred to as a liquidation bankruptcy, or personal bankruptcy, and is the kind of bankruptcy most people are referring to when they use the term “bankruptcy.” In this kind of bankruptcy, your situation must pass the Means Test, and then the process can be started. The Means Test is basically a filter for all bankruptcy cases, to make sure that individuals qualify to file for this particular kind of bankruptcy. If you are determined to pass the Means Test, we will then proceed with the filing of your bankruptcy, whereby your assets can be liquidated to pay your debts equally among your creditors. Your debts will then be paid, or discharged*. We will walk you through the process, so you won’t get discouraged or confused by the paperwork or proceedings, once we’ve determined that this is the best way to relieve your debts.
What is Chapter 11 Bankruptcy?
This type of bankruptcy is generally for use by corporations or partnerships, or individuals with large amounts of assets and debts, and is also called “Reorganization.” In this kind of bankruptcy proceeding, the business may stay open, and the owners/operators may stay in possession of the assets of the business. This process is often very lengthy and quite expensive, but gives the business many new rights while undergoing the reorganization.
What is Chapter 13 Bankruptcy?
This is sometimes referred to as “mini Chapter 11 bankruptcy,” and is meant for individuals and small business owners (sole proprietors) who would like to repay their debts, but have fallen on hard financial times. It’s most like Chapter 11 bankruptcy in that during the proceedings, and afterwards, you retain your property and other assets, where as in Chapter 7, these may be liquidated to repay your debts. Basically, this is a plan to pay your debts, up to 100%, over time (no longer than 36 months). Once you come in for your consultation, we can decide which Chapter is right for you.
Give us a call and we can help you decide which option is right for you. Our goal is to get you debt free as soon as possible.
*Some debts will not be discharged in full, such as alimony or child support, and some tax debts
