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Bankruptcy In order to delcare bankruptcy, a business or individual must ascertain that they are inable to pay off their creditors. Declaring bankruptcy can bring a fresh start as most debts are relieved because bankruptcy has been filed. Because there are several different ways to file bankruptcy and each situation must be treated individually, Hendricks and Larsen gives you the attention you need. We are here to discuss your case with you and explain to you the options you have. Because we know it can be difficult to trudge through bankruptcy jargon, we are here to be your translators. We would be happy to explain what Chapter 9 says, how Chapter 7 can help you or why you should or should not file bankruptcy. Below is some brief information that can help you organize your thoughts when it comes to bankruptcy law. Chapter 7, or liquidation bankruptcy, means that you pay off your creditors by selling your "estate," or in other words, assets. A reorganization bankruptcy may also involve selling your assets, but the majority of the time, you can retain a majority of your assets while the needs of your creditors are assessed. Reorganization bankruptcies can be filed under the following guidelines:
To learn more about your options in bankruptcy law, contact us today. We're here to help. |
 Bankruptcy LawIn order to declare bankruptcy, a business or individual must ascertain that they are unable to pay off their creditors. Declaring bankruptcy can bring a fresh start as most debts are relieved because bankruptcy has been filed. Because there are several different ways to file bankruptcy and each situation must be treated individually, Hendricks and Larsen gives you the attention you need. We are here to discuss your case with you and explain to you the options you have. Because we know it can be difficult to trudge through bankruptcy jargon, we are here to be your translators. We would be happy to explain what Chapter 9 says, how Chapter 7 can help you or why you should or should not file bankruptcy. Below is some brief information that can help you organize your thoughts when it comes to bankruptcy law. Chapter 7, or liquidation bankruptcy, means that you pay off your creditors by selling your "estate," or in other words, assets. A reorganization bankruptcy may also involve selling your assets, but the majority of the time, you can retain a majority of your assets while the needs of your creditors are assessed. Reorganization bankruptcies can be filed under the following guidelines:
To learn more about your options in bankruptcy law, contact us today. We're here to help. |
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Serving Utah County
Se Habla Espanol  |
