Bankruptcy Services in Guam
At McDonald Law, we understand that financial difficulties can be overwhelming. Our team is here to guide you through the complexities of bankruptcy law and help you find the best path forward. We offer personalized solutions to meet your unique needs.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” allows individuals to discharge most of their unsecured debts. This process involves the sale of non-exempt assets to pay off creditors. It’s a suitable option for those who have limited income and cannot repay their debts.
How We Can Help:
- Evaluate your financial situation to determine if Chapter 7 is the right choice.
- Guide you through the means test to qualify for Chapter 7.
- Assist in preparing and filing all necessary documents.
- Represent you in court proceedings and creditor meetings.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy is primarily used by businesses to reorganize their debts while continuing operations. This type of bankruptcy allows companies to restructure their finances and create a plan to pay creditors over time.
How We Can Help:
- Develop a comprehensive reorganization plan tailored to your business needs.
- Negotiate with creditors to reach favorable terms.
- Assist in filing all required documentation and compliance with court procedures.
- Provide ongoing legal support throughout the reorganization process.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy, or “wage earner’s plan,” enables individuals with regular income to create a repayment plan to pay off their debts over three to five years. This option is ideal for those who want to keep their assets and have a steady income.
How We Can Help:
- Assess your financial situation to determine eligibility for Chapter 13.
- Help you develop a feasible repayment plan.
- File all necessary paperwork and represent you in court.
- Provide continuous support and guidance throughout the repayment period.
We understand the stress of financial difficulties and are here to support you every step of the way. We offer tailored solutions to fit your specific financial situation.
If you’re facing financial challenges, don’t hesitate to contact McDonald Law. Let us help you regain control of your financial future.