What does it mean when you hear "Life gets in the way of living"? For many, it is that the stresses, specifically financial worries, negatively impact your daily living. Often, these financial problems are the result of unforeseen illnesses, changes in the economy, loss of a job, or loss of a spouse.
In the early 1800's the U.S. Government enacted its first law concerning bankruptcy. Over the past two centuries, that law has evolved to what we have today, a method for those in financial crisis to seek relief. This relief can come in the form of a liquidation of debt under Chapter 7 or the more complex reliefs offered under Chapters 11 and 13. Each chapter has advantages as well as qualifying elements. To find out which chapter is best for your individual situation, contact the Yates Law Office for a consultation.