Alternatives to Filing for Chapter 7

Chapter 7 may not always be right for you, this is something you and your attorney can sit down and figure out.

For example debtors who are in business; corporations, partnerships and sole proprietorships. May want to remain in business and avoid liquidations. In this case Chapter 7 may not be right and they should look into Chapter 11 or 13. A bankruptcy lawyer can help you determine which chapter would be best suited for you.

Also any individual debtors who have regular income may seek an adjustment of debts under chapter 13. Which may just help save your home from foreclosure allowing you to catch up on past due payments with a financial plan.

Out of court agreements with creditors or debt counseling services may provide an alternative to a bankruptcy filing as well.

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