Sherman Law Firm, P.C. provides legal services designed to help you regain control of your life and get a fresh start toward a new financial future. We offer our clients a powerful legal resource and a proven plan for success. Listed below is a comprehensive list of legal services we offer our clients.
| Chapter 7 Bankruptcy | Chapter 11 Bankruptcy | Chapter 13 Bankruptcy | ||
| Chapter 7 bankruptcy is sometimes call a straight bankruptcy is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors. A discharge of dischargeable debts may occur within four months. | The chapter of the Bankruptcy Code providing for reorganization usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. Individuals can also seek relief in chapter 11. | This type of bankruptcy is most often used by individuals who want to catch up on debts such as mortgage arrears or collateralized property. It is particularly effective in dealing with IRS debt. It establishes a payments of a portion of the total debt owed over a period of three to five years. |