. . .fighting for the consumer one case at a time.
The Jump Law Group
Chapter 11
Chapter 11 Bankruptcy
What is Chapter 11 Bankruptcy?
Chapter 11 Bankruptcy's are typically for businesses who have an ongoing income stream. In some rare cases we will do them for an individual debtor who has extremely high debts beyond the limits of the Chapter 13 protocols. Typically, we will use the Chapter 11 to deal with multiple real estate properties, excessive student loans, or other debt management which requires a more involved approach.
Chapter 11's are expensive and not lightly entered into. If you are a business, you should sit down with us prior to choosing any direction. A Chapter 7 might be much more effective and decisive as an avenue towards reorganization.
Chapter 12
Chapter 12 Bankruptcy
What is Chapter 12 Bankruptcy?
Chapter 12 bankruptcy's are for family farmers. Although a Chapter 12 is rarely used, but they can be highly effective where greater than 50% of the income derived for a family or individual was from the activity of farming. While rarely used, Chapter 12 has some distinct advanatages over Chapter 11 and 13. For instance, we have the ability to 'cram down' the mortgage on the family farm home from the financed value to the present market value. This can represent thousands of dollars in savings to the debtor. Often we work closely with FSA when handling Chapter 12's to ensure adequate ongoing capital to the family farm while in the reorganization.
253 479 0241
Kent and Davenport, WA
(253) 479-0241
(509) 725-1130
