Personal Bankruptcy

We don't take a cookie-cutter approach to personal bankruptcy.

Get a Confidential Consultation

Personal Bankruptcy 

We Represent The 3%

97% of all bankruptcy cases are non-business or personal in nature. They are due to medical debt, foreclosure, wild spending, job loss, or consumer related problems. 

The other 3% are businesses or business owners who need a high-level of service and cannot be handled in a cookie cutter, one-size-fits-all fashion.  If you have no assets, no business, don't plan to start a business, and have a W-2 job, we may not be your best choice, but we'll point you in the right direction.

Our personal bankruptcy clients have unique or complicated situations and need the following: 

  • Availability - Emergency filing and same-day attorney access 
  • Communication - Multi-person, highly knowlegable team  
  • Experience - Multi-disciplinary and diverse skill set
  • Flexibility - Custom payment arrangement and filing arrangements
  • Resources - Non-bankruptcy attorney access 
  • Success - 98.7% of clients' cases succeed vs 78.5% (industry avg)

If you are part of the 3%, or have a unique situation, consider scheduling a confidential, free consultation.  Even if we're not the best fit for your situation, we'll gladly offer what advice we can and point you in the right direction.

Free Case Review

Personal Bankruptcy

Chapter 13 Personal Bankruptcy

What is a Chapter 13 Bankruptcy?

A Chapter 13 personal bankruptcy is a plan to restructure your personal debts. In Chapter 13, the court approves a repayment plan that allows you to use your future income to pay off personal debts over three to five years rather than surrender property. After you make all of the payments outlined in the plan, you receive a discharge of any remaining debts.

Advantages of Chapter 13 Bankruptcy

A Chapter 13 bankruptcy allows you to restructure debts, minimizing asset loss. Advantages include:


  • You can keep creditors from repossessing needed assets
  • If you have a steady income, you may keep property like a mortgaged house or car that you might otherwise lose. 
  • Once your payments are made, you receive a discharge of debts
When is a Chapter 13 Bankruptcy the Best Choice?

Chapter 13 bankruptcy is the best choice for those who: 


  • Earn too much to be eligible for Chapter 7 bankruptcy
  • Are behind on certain payments like a mortgage, car, tax, or child support

Personal Bankruptcy

Chapter 11 Personal Bankruptcy

What is a Chapter 11 Personal Bankruptcy?

A Chapter 11 personal bankruptcy allows an individual to restructure debt while keeping their assets and income untouched. Also known as the "reorganization" bankruptcy, Chapter 11 makes it possible for you to work out payment arrangements with creditors as well as discharge debt. There are no debt limits, and a trustee is generally not appointed, though one can be appointed if needed.

Advantages of a Chapter 11 Bankruptcy
A Chapter 11 bankruptcy provides flexibility on how you manage bankruptcy, and what you accomplish with the process. Advantages include:

  • Breathing room. Once you file, Chapter 11 personal bankruptcy gives you a few months to develop a plan for debt reorganization. This can help you think strategically about how you will get your finances back on track.

  • Manageable repayment options. In a Chapter 11 personal bankruptcy, you are able to file a plan for debt reorganization that makes sense for you. Once that plan is approved by the court, you are able to begin paying down those newly reorganized debts.

  • Businesses or other income generating assets remain in your control. Unlike any other personal bankruptcy chapters, Chapter 11 provides tremendous freedoms, including retaining control of income producing assets, such as a business or property. 
When is a Chapter 11 Personal Bankruptcy the best choice?

A Chapter 11 Personal Bankruptcy is the best choice for individuals that need to:

  • Eliminate or minimize unsecured debt
  • Prioritize secured creditors
  • Buy time to reorganize operations to become profitable

Personal Bankruptcy

Chapter 7 Personal Bankruptcy

What is a Chapter 7 Personal Bankruptcy?

A Chapter 7 bankruptcy allows an individual to eliminate debt quickly and move forward with a fresh start in a period of months. Chapter 7 sells your non-exempt property to pay your creditors. While Chapter 7 is a much faster process than Chapter 13 bankruptcy, it is not as ideal for asset protection.

Advantages of Chapter 7 Bankruptcy

A Chapter 7 bankruptcy enables you to get out from under debts, fast. Advantages include:


  • A 4-6 month process from the date of filing, compared to 3-5 years with a Chapter 13 bankruptcy. 
  • Gives you the opportunity to move forward with a fresh start. 
  • Basically wipes the slate clean.
When is a Chapter 7 Bankruptcy the best choice?

Chapter 7 bankruptcy is the best choice for those who: 


  • Need quick debt relief
  • Have medical bills or other debt and are current on your house and car payments
  • Have smaller earnings or do not have a steady income
  • Has significant old or bad business debt.

Personal Bankruptcy FAQs

Below are answers to the most common questions we hear from clients. If there is a question you have that we didn't cover, give us a call at (877) 408-3328 and we'll be happy to answer it for you.

What is bankruptcy?
Should I file for bankruptcy?
What are the different types of bankruptcy?
How does Chapter 11 bankruptcy work?
What is Chapter 5 Bankruptcy?
What are the main differences between Chapter 7 and Chapter 13 personal bankruptcies?
Is there a certain amount of debt to qualify for bankruptcy?
Do you need a lawyer to file for bankruptcy or can you file on your own?
Will bankruptcy eliminate all of my debts?
Who will know if I file for bankruptcy?
How will filing bankruptcy affect my business?
Will bankruptcy stop foreclosures or repossessions?
Can I wipe out medical bills by filing for bankruptcy?
Is student loan debt dischargeable in bankruptcy?
What types of debt are eligible for discharge through bankruptcy?
How are debts paid in a small business Chapter 7 bankruptcy?
When is Chapter 13 preferable to Chapter 7 bankruptcy?
What are the advantages of Chapter 13 bankruptcy?
When is Chapter 7 preferable to Chapter 13 bankruptcy?
What are the advantages of a Chapter 7 bankruptcy?
What are the different types of property that are exempt under Chapter 7 bankruptcy?
Can I file for Chapter 7 bankruptcy as a business entity?
What is an unsecured debt?
What is a secured debt?
How can bankruptcy protect me from aggressive debt collectors?


Have Personal Bankruptcy Questions?

Don't risk your personal financial future without first understanding the differences between personal bankruptcy under Ch 7, Ch 11, or Ch 13. Schedule a free consultation or send us a message and tell us about your situation.

© 2024 The Lane Law Firm | All Rights Reserved | Se Habla Español