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Bankruptcy

Bankrupt is the state or condition of a person or entity (individual, partnership, corporation, municipality) who is unable to pay its debts. The Bankruptcy Code (11 U.S.C.A.) is a federal law for the benefit and relief of debtors in cases where they are unable to pay their debts. The most common form of bankruptcy is the liquidation bankruptcy (Chapter 7). The debtor rehabilitation provisions of the code are Chapter 11 (for business entities), Chapter 12 (for farms), and Chapter 13 (for individuals). Thompson Law Office represents clients under all provisions of the code.

Thompson Law Office has represented clients in filing hundreds of bankruptcy petitions on their behalf. They have also successfully pursued motions to stay garnishment proceedings in order to stop collection proceedings already under way. Thompson Law Office works to find the best chapter of the code to pursue for each client with the ultimate goal of preserving all assets allowed by law while gaining debt relief.

 

 


 

 


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