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Practice Areas William C. Babut, P.C. When filing a bankruptcy, an individual or entity is able to choose the kind of bankruptcy that best fits their needs. Chapter 7 bankruptcy involves the liquidation of debts. A trustee is appointed to administrate the bankrupt estate, in Chapter 7 bankruptcy, one generally exempts (retains) all of their personal property. It is common for Chapter 7 debtors to keep their home and the corresponding mortgage as long as there is not an excessive amount of equity in the property. Retaining cars and their loans is also routine in Chapter 7. Chapter 13 bankruptcy is commonly called a "wage earner" bankruptcy because of the need for income to fund a plan to reorganize your debt situation. The court must approve your repayment plan and your budget. A trustee is appointed and will collect the payments from you, pay your creditors, and make sure you live up to the terms of your repayment plan. Chapter 11 bankruptcy involves the reorganization of a business. In Chapter 11, you may continue to operate your business, but your creditors and the Court must approve a plan to repay your debts. If you have already filed a bankruptcy under Chapter 7, you may be able to change your case to another chapter. If you are suffering from a condition or injury that prevent you from earning income from working, you may be eligible to receive social security disability benefits. If you have applied for these benefits, and been denied, we can help. William C. Babut, P.C. can guide you through the frustrating area of social security and disability law. Through reconsidering an application for social security and arguing appeals before the administrative law judge, this office is able to assist a social security applicant through all stages of their application for social security benefits. If you have questions about how we can serve you, please contact us. We will be happy to meet with and answer your questions FREE OF CHARGE. Payment Plans Available for Bankruptcy Clients No Fee for Social Security Disability Clients Unless We Collect Benefits For You The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Copyright © 2009 by William C. Babut P.C. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. |  | |
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