FREELANCE PARALEGAL SERVICES

Welcome to Freelance Paralegal services. We offer specialization of Chapter 7 & 13 Bankruptcy cases.

Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors. This supervised division also allows the interests of all creditors to be treated with some measure of equality. Certain bankruptcy proceedings allow a debtor to stay in business and use revenue generated to resolve his or her debts. An additional purpose of bankruptcy law is to allow certain debtors to free themselves (to be discharged) of the financial obligations they have accumulated, after their assets are distributed, even if their debts have not been paid in full.

There are essentially four types of Bankruptcy proceedings. A filing under Chapter 7 is called liquidation. People who file under Chapter 7 do so in order to discharge their unsecure debts and get a fresh start. It is the most common type of bankruptcy proceeding.

Bankruptcy proceedings under Chapters 12, 13 and 11 involves the rehabilitation of the debtor to allow him or her to use future earnings to pay off creditors. People who file under Chapter 13 (usually small business proprietary owners) do so in order to keep property in which a creditor has a lien- It reorganizes and allows the debtor to repay their debt in 3 to 5 years. After a bankruptcy proceeding is filed, creditors, for the most part, may not seek to collect their debts outside of the proceeding. The debtor is not allowed to transfer property that has been declared part of the estate subject to proceedings. Furthermore, certain pre-proceeding transfers of property, secured interests, and liens may be delayed or invalidated. Various provisions of the Bankruptcy Code also establish the priority of creditors’ interests.