The unfortunate reality is that many businesses fail and sometimes people fall so far in the financial hole that it seems impossible to climb out. Bankruptcy may be an option for those people and businesses to get relief from all the financial pressures, resolve all outstanding debts and get a fresh start. The bankruptcy attorneys at Parlatore Law Group can help guide you through the process by ensuring that the right type of bankruptcy is filed and that all assets and liabilities are properly disclosed and addressed to get you the clean start that you need. On the flip side, creditors need to navigate the bankruptcy process to maximize their recovery of debts owed. While creditors know that they likely won’t fully recover the debt owed through the bankruptcy process, failure to properly handle various filings could result in another creditor taking priority and you could recover nothing. Worse, you could even be ordered to pay back some of the payments that you received before the bankruptcy filing. In extraordinary circumstances, creditors who reasonably believe they will not get paid can even force a debtor into an involuntary bankruptcy. Our bankruptcy attorneys are also experienced at guiding creditors through these processes to ensure maximum protection and recovery.
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