Bankruptcy proceedings can have long-term benefits
Law Firm News
Chicago Bankruptcy Law Firm Covers Bankruptcy in the Wake of COVID-19 The COVID-19 pandemic has damaged the economy, leaving many families and business owners worried about how they will pay for even the most basic expenses. In the midst of this crisis, you might be considering filing for bankruptcy or wondering how COVID-19 will affect an existing bankruptcy filing. No matter your situation, the Chicago Bankruptcy Law Firm of Daniel J. Winter is here to help give you the answers and assistance that you need. We are more than happy to explain to anyone in financial distress exactly what their options are. What Is Bankruptcy? Bankruptcy is a Federal system of laws, rules, and procedures designed to help legal residents of the U.S. deal with their debts, which, for whatever reason, individuals or businesses cannot pay as they are due. The most common types of Bankruptcy are for people (called Consumer Bankruptcies). Two major types of Consumer Bankruptcy are Chapter 7 (liquidation or debt elimination), Chapter 13 (wage-earner reorganization for individuals or people running unincorporated businesses). Chapter 11 is a type of Corporate Bankruptcy (reorganization for businesses and certain individuals with extremely large amounts of debt). Chapter number refers to the section of the Bankruptcy law, called the Bankruptcy Code (which is in Title 11 of the U.S. Code). Bankruptcy cases almost exclusively fall under federal law, though states may pass laws governing issues that federal law doesn’t address. Special bankruptcy courts nationwide handle only debtor-creditor cases. Generally, any bankruptcy-related claim must be filed with the U.S. Bankruptcy Court.
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New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.