Bankruptcy

Bankruptcy can be a valuable tool for those facing financial difficulties. In order to properly navigate the bankruptcy process, you need attorneys who have the experience necessary to identify how to best apply the bankruptcy protections to your advantage. The attorneys at Richard C. Wayne & Associates have litigated extensively in Bankruptcy Court, representing both creditors and debtors, giving them an in depth understanding of both sides of the bankruptcy process. This experience is invaluable, as it allows the attorneys at Richard C. Wayne & Associates to provide top tier bankruptcy representation to their clients.

Bankruptcy may be right for you if you are facing issues such as a pending foreclosure, a pending car repossession, or if you’re facing insurmountable credit card debt or medical debt, among many other situations. The two chapters of bankruptcy which are most commonly used by consumers to solve debt related issues are chapter 7 and chapter 13. Both of these bankruptcies, if used properly, can be powerful tools to protect your assets and to resolve your debts. The attorneys at Richard C. Wayne & Associates have the skill and knowledge required to analyze your situation, properly explain all the options available to you, and execute on our carefully crafted strategy.

Key Services

Chapter 7 – Chapter 7 is a liquidation bankruptcy, where the debtor’s assets may be sold off in order to pay off debts. This is the most commonly filed chapter of bankruptcy and can be a quick solution (a Chapter 7 case generally lasts for 4-6 months) to resolving issues with creditors. The attorneys at Richard C. Wayne and Associates have the requisite knowledge to identify when Chapter 7 Bankruptcy is the appropriate solution. Chapter 7 may be the right solution if you are facing what may seem to be an insurmountable financial struggle. The objective of a Chapter 7 Bankruptcy is to receive a “Chapter 7 discharge” which releases individual debtors from personal liability for most debts and generally prevents the creditors owed those debts from taking any collection actions against the debtor.

Chapter 13 – Chapter 13 Bankruptcy is a wage earners bankruptcy and allows a debtor to establish a repayment plan in order to pay off certain debts and retain valuable assets. Chapter 13 Bankruptcy is a valuable tool if you have fallen behind on a debt (i.e. a mortgage or car payment) and need some breathing room in order to establish a repayment plan to put you back on track. Chapter 13 is particularly beneficial in stopping a pending foreclosure and gives a debtor an opportunity to create a payment plan which cures the default. The attorneys at Richard C. Wayne and Associates have the experience required to help guide you through the Chapter 13 process and create a chapter 13 repayment plan which works to keep your property and cure necessary deficiencies.

Adversary Proceedings – An Adversary Proceeding is a lawsuit filed separate from but related to a bankruptcy case. Adversary proceedings can arise for various reasons, but generally involve serious matters and more complicated aspects of bankruptcy law. The Attorneys at Richard C. Wayne & Associates have both the bankruptcy knowledge and the litigation experience to properly litigate any adversary proceedings which may arise during your bankruptcy. Our experience allows us to navigate the bankruptcy process in a manner which minimizes exposure to possible adversary proceedings and enables us to properly defend your rights should an adversary proceeding arise.