How a Bankruptcy Attorney Can Help You
If you are facing a bankruptcy, you will want to consider working with our attorney, a bankruptcy lawyer in Guam. The bankruptcy process can be complex and frustrating for those who try to go at it alone. A bankruptcy attorney in Guam can help you plan out your bankruptcy and walk you through every step of the process.
Work With bankruptcy lawyer in Guam
You have several choices for a bankruptcy lawyer in Guam. However, not all bankruptcy lawyers are the same, and you will want to work with a lawyer experienced in the practice area and who can best represent your interests.
As an experienced bankruptcy attorney in Guam, our attorney understands the complexities of bankruptcy law. In addition, with laws constantly changing and being updated, our attorney will keep you apprised of all the nuances of the law and how these can benefit you. If you try to tackle your bankruptcy without the assistance of a bankruptcy lawyer in Guam, you may compound your problems and add unnecessary stress to your life.
A Bankruptcy Attorney That Cares About You
Our lawyer understands the very personal nature of a bankruptcy. Individuals going through a bankruptcy can potentially lose their home and personal possessions through the process. In our small community, this bankruptcy lawyer in Guam will work hard to make sure that the bankruptcy disrupts your life to the minimum amount possible.
Our attorney will not view your case as just another bankruptcy claim. Instead, he will take the time to understand you, the specifics of your situation, and all the options to mitigate the impact of bankruptcy on you. An experienced bankruptcy lawyer in Guam, our lawyer will be at your side throughout the bankruptcy process including completing forms, attending hearings, arguing your case before an adjudicator, and other matters.
There are several different ways to categorize bankruptcy cases.
Core and non-core proceedings
There are two basic types of bankruptcy proceedings: core and non-core.
Core proceedings are directly related to a bankruptcy case, which arises under the Bankruptcy Code. Core proceedings include:
- Estate administration.
- Claim allowance or disallowance.
- Use and sale of property.
- Preference litigation.
- Automatic stay litigation.
- Fraudulent conveyance litigation.
- Plan confirmation.
A bankruptcy judge may render final orders in core proceedings.
Non-core proceedings are related to the bankruptcy case but do not arise directly from the Bankruptcy Code. For example, a personal injury or wrongful death claim of the debtor are non-core proceedings.
Bankruptcy judges may not render a final order in non-core matters without explicit written authorization of all parties involved. When written authorization is not obtained, the bankruptcy judge will submit findings of fact and conclusions of law to the district judge, who will render a final decision. However, it is very rare that a bankruptcy judge is not authorized to render an opinion in non-core matters.
Types of bankruptcy cases
There are six types of bankruptcy cases:
- Chapter 7: Liquidation or “Straight” Bankruptcy.
- Chapter 9: Adjustment of Municipality Debts.
- Chapter 11: Reorganization.
- Chapter 12: Adjustment of Debts for Farmers or Fishermen.
- Chapter 13: Wage Earner’s Adjustment of Debts.
- Chapter 15: Ancillary and Other Cross Border Cases.
Voluntary and involuntary actions
Bankruptcy actions can be either voluntary or involuntary. Voluntary actions are commenced by the debtor, and involuntary actions are commenced by the debtor’s creditors. An action in bankruptcy is considered voluntary when a debtor decides to file bankruptcy for relief from creditors.
Any person, partnership or other business organization may voluntarily file bankruptcy. More than one person may be entered on the bankruptcy petition, such as husband and wife, members of a partnership and one or more general partners, and a debtor and an affiliate. To file bankruptcy, a person must reside or have property or a place of business in the United States.
A voluntary bankruptcy may be filed under Chapter 7 (liquidation or straight bankruptcy), Chapter 9 (municipal debt adjustment), Chapter 11 (reorganization), Chapter 12 (farmers or fishermen), Chapter 13 (wage earner’s adjustment of debts), and Chapter 15 (ancillary or cross border cases). However, under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, an individual debtor with primarily consumer debts is subject to a “means test” to determine eligibility to file a Chapter 7 bankruptcy case.