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schedule your chapter 11 or 12 bankruptcy appointment TODAY!
Debt Relief through Bankruptcy is Just Over the Horizon.
Serving people in the Southeast Alabama and North Florida markets.
Let us help you get rid of your debt.
The Bankruptcy Code was developed to give Americans a fresh start if they have amassed too much debt. We will assess your specific financial situation and advise you on how best to proceed.
While many people will actually qualify for both Chapter 7 and Chapter 13, it is our job to assess your unique financial situation and advise you on the benefits associated with either filing. We will work diligently to determine how bankruptcy can lead you to a brand new financial future.
Determining which bankruptcy is best for you depends on a number of factors. This website outlines some of the key differences among the two primary types of bankruptcy, as well as some of the more uncommon types.
Chapter 11 & Chapter 12 – Specialized Bankruptcy Options for Unique Individuals and Businesses
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While there are numerous bankruptcy firms in the Wiregrass area, the Espy Firm is one of only a few south of Montgomery that has the knowledge and experience to represent clients in Chapter 11 and Chapter 12 cases. Both Chapter 11 and Chapter 12 cases are intended for unique individuals or business. Chapter 11 is initially created for a company (e.g., limited liability company or corporation) to reorganize its debts and continue operations. Initially created for large companies, in recent years both individuals and small businesses have taken advantageous of this complicated bankruptcy chapter which has led Congress to implement various types of Chapter 11 options, such as a “small business” Chapter 11 case and subchapter V, Chapter 11 case.
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When an individually finds himself or herself himself owning too much equity to risk filing Chapter 7 and owes too much debt to file Chapter 13, Chapter 11 is usually his/her best option. Further, companies can utilize Chapter 11 to allow for a period of months to reorganize during which time the shareholders/members can assess how best to streamline the company’s operations relative to assets and employees as well as restructure debts.
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Chapter 12 is intended for family farmers or fishermen as defined by the Bankruptcy Code. This bankruptcy chapter can be best described as a hybrid of Chapter 11 and Chapter 13 as it offers the benefits of both for a family farmer or fisherman whose receipt of income is usually much different than that of the standard W2/1099 employee.
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The Espy Firm has successfully represented countless companies and individuals in these complicated bankruptcy cases for decades and can do so for you.
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What Can Bankruptcy Do For You?
GET OUT OF DEBT
Bankruptcy was designed to provide debt relief by either getting rid of or consolidating your debt.
STOP CALLS FROM CREDITORS
Bankruptcy can stop creditors from calling and harassing you.
STOP LAWSUITS
In many cases, bankruptcy can stop lawsuits from creditors who are suing you.
STOP WAGE GARNISHMENTS
Bankruptcy can stop creditors from garnishing up to 25% of your hard earned wages.
STOP FORECLOSURES
Bankruptcy can stop creditors from foreclosing on the home that you’ve worked so hard for.
STOP REPOSSESSION
Filing bankruptcy can stop creditors from repossessing your vehicle or other valuables.
Chapter 11 & Chapter 12
Below are a few key characteristics of these less common bankruptcies.
Chapter 11 Bankruptcy
Chapter 11 is commonly known as business bankruptcy, but it is true that both businesses and individuals can take advantage of this type of debt relief. Chapter 11 bankruptcy is the usual choice for large businesses seeking to restructure their debt, as it allows greater flexibility in which to work.
Chapter 12 Bankruptcy
Chapter 12 is such a specific and specialized section of the Bankruptcy Code, that not all firms have a detailed understanding of how it can help their clients. Our expertise in this area, and our 75 years combined experience, allows our clients to make the most informed decision possible.
Bankruptcy Resources
Credit After Bankruptcy
Most people believe that if you file bankruptcy your credit will be ruined. While it is true that filing a bankruptcy case will affect your [...]
Chapter 12 Bankruptcy: How It Works
The following is an overview of the early course of a typical Chapter 12 bankruptcy case. See Chapter 12: Basics and Eligibility for an overview. [...]
Chapter 11 Bankruptcy: An Overview
Chapter 11 usually makes it to the news when large corporations fall into financial distress and need bankruptcy relief. Corporations that have filed Chapter 11 [...]
Chapter 13 v. Chapter 11 Bankruptcy for Small Business Owners
For a small business in financial distress, bankruptcy may be the only viable option. There are two restructuring options under bankruptcy law for debtors who [...]
Chapter 12: Basics and Eligibility Requirements
Chapter 12 is designed for "family farmers" or "family fishermen" with "regular annual income." It enables financially distressed family farmers and fishermen to propose and [...]
Client Testimonials
“I can say today that my life has turned around all for the better and I owe it all to Cam’s patience and understanding of the bankruptcy laws…”
“I recently got my discharge letter and can’t wait to start rebuilding my credit. I would highly recommend Espy, Metcalf, and Espy…”
“They were highly respected by the trustee I had. They’re also very responsive to questions by email, which really really helps with the stresses…”