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Coachella Valley Bankruptcy

Timothy S. Huyck, Attorney at Law

The most common type of bankruptcy is found in Chapter 7 of the Bankruptcy Code. It is also known as a straight bankruptcy or liquidation bankruptcy, although most cases do not involve any liquidation of assets. A typical Chapter 7 bankruptcy takes about 3 ½ to 4 months from start to finish and after the case is closed, you are free of all those debts that can be discharged.

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This type of bankruptcy is available for individuals and businesses, such as corporations and LLCs, but when a business files under Chapter 7, it must cease operations.