W. Travis Garrison Bankruptcy Law Blog on Lawyers.com

We live in tough economic times.  Despite new bankruptcy laws with stiffer filing requirements, many people file bankruptcy today.  Cupps & Garrison, LLC offers Ohio bankruptcy services to people who are struggling financially.  Bankruptcy is a legal remedy that can overcome insurmountable debt and give you a fresh start. 

Our overall mission is to provide valuable guidance if you are in financial trouble.  Our bankruptcy lawyers can explain the different types of bankruptcy along with other alternatives to bankruptcy.  We and also assist you with Columbus bankruptcy litigation. 

Understanding bankruptcy options

The first step in considering bankruptcy is to understand the different types and how they may apply to your situation.

§  Chapter 7 bankruptcy.  Chapter 7 is the most common type of bankruptcy, often referred to as straight bankruptcy.  In chapter 7, the bankruptcy trustee liquidates assets and pays off debt with the proceeds.  Many assets are exempt, while some are not.  When a company files Chapter 7, it ceases operations and goes out of business.

§  Chapter 11 bankruptcy.  Chapter 11 bankruptcy is generally used by large corporations, although small businesses and individuals may also file Chapter 11.  A Chapter 11 involves reorganization which restructures debt and companies to pay off creditors.  Unlike Chapter 13, there is no limit for the amount of debt allowed when filing Chapter 11.

§  Chapter 13 bankruptcy.  Chapter 13 may be used by individuals to reorganize debt and make monthly payments over a three or five year period.  People who do not qualify for Chapter 7 may qualify for Chapter 13 if their debts are:

?  Unsecured debts less than $336,900.00

?  Unsecured debts less than $1,010,650.00

Bankruptcy litigation in Columbus

Aside from helping you file bankruptcy, we can also represent you in Ohio bankrutpcy litigation.  In a bankruptcy, there is no litigation of the bankruptcy case, but there may be lawsuits within the bankruptcy case. 

Examples include proceedings brought by:

§  A creditor to keep a debt from being discharged

§  The trustee against non-debtors to undo tranfers

§  The trustee to move a bankruptcy from a Chapter 7 to a Chapter 13

§  Debtors against creditors for actions taken in violation of the Bankruptcy Code

Get legal help with bankruptcy

Whatever the situation, we help people in debt and offer a low-cost initial consultation and case evaluation.  Call 614-441-8603, or contact Cupps & Garrison, LLC online.

Cupps & Garrison, LLC35 East Gay Street, Suite 402Columbus, OH 43215
Phone: 614-441-8603