Canton Bankruptcy Law
Filing Chapter 7, Chapter 11, or Chapter 13 in Canton and Ohio
Bankruptcy is the right financial choice when an individual or business has liabilities that exceed its assets and cannot meet its financial obligations as they become due.
Filing a bankruptcy petition is like filing any other lawsuit or claim—you are beginning a legal process, but you are not guaranteed a certain outcome.
Douglas D. Jones, Canton bankruptcy law attorney, can advise what the possibilities are and how to structure your bankruptcy filing, so that it fulfills your financial goals.
Chapter 7 in Canton and the United States
Chapter 7 in Canton and the United States
Chapter 7 bankruptcy is a fresh start, also known as liquidation.
You tell the court through your lawyer that you have neither assets nor equity, and the court appoints a trustee to liquidate what you own to pay off creditors.
Creditors can’t come after you once you file Chapter 7 in Canton.
Chapter 11 in Canton and the United States
Chapter 11 in Canton and the United States
Chapter 11 bankruptcy is a re-organization of debts for businesses.
This type of bankruptcy filing also stays your creditors, but the court does not appoint a trustee—you are responsible for re-organizing your business with your lawyer.
Many businesses that file Chapter 11 eventually file for Chapter 7—if you file Chapter 11 in Canton, Douglas Jones can help prevent total liquidation.
Chapter 13 in Canton and the United States
Filing Chapter 13 in Canton may be right for you if you are a wage-earner with a specific combination of assets and obligations: