We serve and vigorously protect the interests of our bankruptcy clients in a high-quality, efficient, and cost-effective manner, while providing extensive knowledge, attention to detail, and aggressive legal representation. Our reputation in legal circles is such that it is not uncommon for adversaries of OSBIG to recommend our firm. On occasion, our adversaries on prior cases have even hired us to represent them.
Our cases come through referrals from other law firms, from past or present clients, or through word of mouth. We're known for our litigation expertise, the in-depth analysis we give all our cases, and the level of time, energy, and due diligence we invest from the very beginning of each and every case. We never avoid the hard work of discovery in hopes of an early or easy settlement.
We are exquisitely prepared -and prepare to try the case- every time. Our qualified bankruptcy attorney team bring years of experience and knowledge to the bankruptcy process.
Our cases come through referrals from other law firms, from past or present clients, or through word of mouth. We're known for our litigation expertise, the in-depth analysis we give all our cases, and the level of time, energy, and due diligence we invest from the very beginning of each and every case. We never avoid the hard work of discovery in hopes of an early or easy settlement.
We are exquisitely prepared -and prepare to try the case- every time. Our qualified bankruptcy attorney team bring years of experience and knowledge to the bankruptcy process.
Services
The fundamental goal of the federal bankruptcy laws enacted by Congress is to give debtors a financial "fresh start" from burdensome debts.
This goal is accomplished through the bankruptcy discharge, which releases debtors from personal liability from specific debts and prohibits creditors from ever taking any action against the debtor to collect those debts.
There are several types of bankruptcy cases that are provided for under the Bankruptcy Code.
The cases are traditionally given the names of the chapters that describe them.
This goal is accomplished through the bankruptcy discharge, which releases debtors from personal liability from specific debts and prohibits creditors from ever taking any action against the debtor to collect those debts.
There are several types of bankruptcy cases that are provided for under the Bankruptcy Code.
The cases are traditionally given the names of the chapters that describe them.
Determining whether or not to file Bankruptcy is one of the most important financial decisions a person will ever make.
This decision must be an informed decision that can only be made after consulting with an experienced professional at OSBIG.
We have substantial experience representing not only Debtors, but Chapter 7 Trustees, and Creditors.
This experience is important because we are able to identify issues that other law firms may not recognize or comprehend, as our experience allows us to see several steps ahead.
This decision must be an informed decision that can only be made after consulting with an experienced professional at OSBIG.
We have substantial experience representing not only Debtors, but Chapter 7 Trustees, and Creditors.
This experience is important because we are able to identify issues that other law firms may not recognize or comprehend, as our experience allows us to see several steps ahead.
Chapter 7 Bankruptcy contemplates an orderly, court-supervised procedure by which a trustee administers the assets of the debtor's estate.
The Trustee's role is to liquidate a debtor's non-exempt assets, reduce them to cash, and make distributions to creditors.
This is subject to the debtor's right to retain certain exempt property and the rights of secured creditors.
In most Chapter 7 bankruptcy cases, if the debtor is an individual, he or she receives a discharge that releases him or her from personal liability for certain dischargeable debts.
The Trustee's role is to liquidate a debtor's non-exempt assets, reduce them to cash, and make distributions to creditors.
This is subject to the debtor's right to retain certain exempt property and the rights of secured creditors.
In most Chapter 7 bankruptcy cases, if the debtor is an individual, he or she receives a discharge that releases him or her from personal liability for certain dischargeable debts.
This type of Bankruptcy is ordinarily is used by commercial enterprises that desire to continue operating a business and repay creditors concurrently through a court-approved plan of reorganization.
The chapter 11 debtor usually has the exclusive right to file a plan of reorganization for the first 120 days after it files the case and must provide creditors with a disclosure statement containing information adequate to enable creditors to evaluate the plan.
The court ultimately approves (confirms) or disapproves the plan of reorganization.
The chapter 11 debtor usually has the exclusive right to file a plan of reorganization for the first 120 days after it files the case and must provide creditors with a disclosure statement containing information adequate to enable creditors to evaluate the plan.
The court ultimately approves (confirms) or disapproves the plan of reorganization.
Chapter 12 is designed for "family farmers" or "family fishermen" with "regular annual income."
It enables financially distressed family farmers and fishermen to propose and carry out a plan to repay all or part of their debts.
Under chapter 12, debtors propose a repayment plan to make installments to creditors over three to five years.
Generally, the plan must provide for payments over three years unless the court approves a longer period "for cause."
Chapter 12 is more streamlined, less complicated, and less expensive than Chapter 11, which is better suited to large corporate reorganizations.
It enables financially distressed family farmers and fishermen to propose and carry out a plan to repay all or part of their debts.
Under chapter 12, debtors propose a repayment plan to make installments to creditors over three to five years.
Generally, the plan must provide for payments over three years unless the court approves a longer period "for cause."
Chapter 12 is more streamlined, less complicated, and less expensive than Chapter 11, which is better suited to large corporate reorganizations.
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