When individuals and businesses face severe financial problems, exploring available bankruptcy options may be a sound choice. Some of the options include:
- Chapter 7: Liquidation of assets for individuals and businesses, also known as “straight bankruptcy.”
- Chapter 11: Rehabilitation or reorganization of finances, used mostly by businesses of all types.
- Chapter 12: Reorganization available to family farmers and family fishermen.
- Chapter 13: Repayment plan available to individuals with a regular source of income.
Tyler, Bartl & Ramsdell, P.L.C. is located in Alexandria and provides bankruptcy services for residents and businesses throughout northern Virginia. Please contact us to discuss your options and alternatives.