By filing chapter 7 bankruptcy in Portland, you are liquidating your properties and assets to fulfill your financial obligations to your creditors. This form of bankruptcy requires that the judge assign a trustee to oversee all sales of these items and distribute the funds to your creditors to pay off your debts. In some cases, it is possible for the judge to discharge some debts based on their balance and type. To discuss these matters completely with an attorney, contact the Law Office of Horak and Boyd.
Saving Your Company
Bankruptcy is a method of protecting your company from litigation by your creditors. Once the debts are included within a bankruptcy claim, your creditors cannot file a lawsuit against your company in an attempt to collect. It also prevents foreclosures on business properties and assets. Through bankruptcy, you can protect properties such as your home and personal vehicle and prevent seizure or foreclosure. Some debts are discharged through bankruptcy based on their balance and the type of debt.
Local Bankruptcy Attorney
Horak and Boyd Attorneys at Law present you with several forms of bankruptcy as well as assistance with estate planning and personal injury claims. These attorneys provide you with the claim’s process to ensure that you have a chance to amicably settle your financial obligation without adverse legal actions against your company. Through bankruptcy you can liquidate assets and properties associated with your company to pay off all debts and become debt free. To hire an attorney to file a bankruptcy claim, contact Horak and Boyd Attorneys at Law today or visit their website at Horakboyd.com.
Summary
With chapter 7 bankruptcy in Portland you will liquidate properties and assets to generate funds. These funds are utilized to pay off your debts and managed by a trustee assigned by the court to your case. Your trustee reports back to the court as your debts are paid off in full. Once all debts are paid, your bankruptcy claim is discharged and any restrictions that applied to the operations of your company are lifted. To discuss Chapter 7 bankruptcy with an attorney call Horak and Boyd Attorneys at Law.
