Arlington Consumer & Business Bankruptcy
- Admitted to Practice in Northern & Eastern Districts Federal Bankruptcy Courts
- Member of the Tarrant Count Bar Association
- Member of the State Bar of Texas Bankruptcy Section
- Member of the Tarrant County Bankruptcy Bar Association
Arlington Bankruptcy Attorney | Sharon Sherman
Sherman Law Firm, P.C. provides bankruptcy services designed to help you regain control of your or business life and get a fresh start toward a new financial future by utilizing Chapter 7, Chapter 11, and Chapter 13 Bankruptcies. We offer our clients and businesses a powerful legal resource of bankruptcy attorneys or bankruptcy lawyers and a proven plan for success through out North, East, and West Texas Areas.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is sometimes called a straight bankruptcy and 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 applicable debts may occur within four months. Learn More About Chapter 7 Bankruptcy.
Chapter 11 Bankruptcy
This chapter of the Bankruptcy Code provides for reorganization usually involving a corporation or partnership. A Chapter 11 Bankruptcy 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 Bankruptcy. Learn More About Chapter 11 Bankruptcy.
Chapter 13 Bankruptcy
This type of bankruptcy reorganization is for individuals who want time to repay debts like mortgage arrears or collateralized property. It is particularly effective in dealing with IRS debt. It establishes a payment plan of a portion of the total debt owed over a period of three to five years. Learn More About Chapter 13 Bankruptcy.
There are two kinds of business bankruptcies, Chapter 7 and Chapter 11. Business owners file bankruptcy to receive the automatic stay to give the business a chance to liquidate in an orderly manner in Chapter 7 and reorganize in Chapter 11.
Sherman Law Firm, P.C. is here to help every step of the way
Our purpose is to relieve you from the weight of oppressive or overwhelming indebtedness, and permit you or your business to start fresh from the obligations and responsibilities as a consequence of business misfortunes. Our Free Consultation will enable you to learn more about bankruptcy and whether it is right for you or your business.
Thank you for entering our page for Arlington, Texas Residents or Businesses considering bankruptcy. Please visit our home page for more comprehensive information.