Bankruptcy: Chapters 7 and 13

Please download and complete the New Client Info Sheet in preparation for your upcoming meeting with Attorney Demczyk. Please bring the completed form along with your tax returns and pay stubs for the previous 12 months.

Filing Bankruptcy

Bankruptcy is a debtor’s form of protection against creditors. If you are thinking of filing bankruptcy, we know that you are going through a difficult time in your life. We understand the hardship that you are going through and we at McNamara, Demczyk Co., LPA aim to take you through the bankruptcy process as compassionately, effectively, and painlessly as possible.

Attorney Michael Demczyk will meet with you at our offices to discuss your financial situation and explain your possible options. Some clients will be more suited for a Chapter 7 Bankruptcy, others Chapter 13, and some may be better off not filing bankruptcy at all.

Attorney Demczyk will advise against filing bankruptcy if bankruptcy is not in your best interest. Attorney Demczyk will handle every aspect of your bankruptcy case. He handles the initial meeting with you. He attends Debtor’s Exams with you or on your behalf. He is available to answer your questions regarding your bankruptcy case. Attorney Demczyk will be your advocate and will handle your bankruptcy case with the utmost confidence and ability.

Chapter 7 Bankruptcy
Chapter 7 Bankruptcy is the most common type of bankruptcy. Chapter 7 Bankruptcy is a process by which the bankruptcy trustee will liquidate assets and use the proceeds to pay the client’s creditors. Certain assets and income are, however, exempt from such liquidation. The client will be able to keep these exempt assets. The client’s debts are then discharged. However, some types of debt cannot be discharged in bankruptcy, including child support, property taxes, and student loans.

Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is a process of reorganizing the debt of a client to make repayment of that debt, or a portion of it, possible. Chapter 13 Bankruptcy involves the creation of a plan based on the client’s debt, income, assets, and other circumstances that will allow the client to repay such debt, or a portion of it, in a manner that is manageable and beneficial to both the client and the creditors.