The stated goal of federal bankruptcy law is to provide the honest debtor with a fresh start. A bankruptcy case is commenced by the filing of a petition and numerous schedules and a statement of financial affairs in order to provide the Bankruptcy Court with a snapshot of a debtor’s financial picture as of the date of filing. Bankruptcy law provides the debtor with a number of specific exemptions allowable under state law and federal law in order to provide a fresh start to a debtor.
There are various chapters that a debtor can file under the bankruptcy law depending on an individual’s particular facts and circumstances. Knowing how bankruptcy can affect you is key to making an informed decision and the lawyers at Griffith, Lerman, Lutz & Scheib possess the specialized knowledge to guide you through this process. Our attorneys have represented both debtors and creditors in just about every bankruptcy proceeding imaginable and can counsel you on the appropriate course of action for your particular circumstances and can explore with you alternatives to bankruptcy as well.