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Bob Morje has represented a broad range of clients in bankruptcy cases for more than 30 years, including both creditors and debtors.
CREDITORS
If someone who owes you money files a bankruptcy, we can assist you interpreting the paperwork you receive, file a proof of claim if appropriate, and represent your interests in the case to maximize your recovery.
DEBTORS
If you are having financial problems, the earlier you confront the issues, the better the likely result. While no-one WANTS to file bankruptcy, understanding the options is always better than drifting in ignorance. Research on the internet is sometimes helpful, but state law concerning exemptions and property ownership often has a significant impact on bankruptcy cases. There is no substitute for consultation with a local bankruptcy lawyer who can explain all the tools available to cope with your situation.
CHAPTER 7
This is the traditional bankruptcy in which debts which can be eliminated are “discharged.” For many consumers, this tool remains available, and often involves keeping houses, cars and other property. Although opinions vary, our view is that this is almost exclusively a tool to be used by consumers, unless a business entity, which is also eligible, has a unique circumstance. Court costs and attorney fees often involve less than $1500.00.
CHAPTER 13
This is a payment plan bankruptcy for individuals including small, proprietorship businesses. This would be your choice if, for example, you are behind on a house, car, or taxes, and need to stop foreclosures and seizures while you pay the delinquencies over time. Depending on your circumstances, that time frame can be as long as five years. Costs and fees typically amount to at least $3300.00, but the bulk of that money can be paid through the plan payments. Often the required “up-front” money required is less than that involved in Chapter 7.
CHAPTER 11
Although the typical Chapter 11 involves a large corporate reorganization, there are circumstances where a small corporation or LLC, as well as an individual with large debts may be a candidate for this remedy. While the vast majority of cases are either 7 or 13, there are circumstances where a Chapter 11 is warranted, and is the only option available. Court costs alone exceed $1000. Required retainers are rarely less than $7500 and up.