SOME QUICK FACTS ABOUT BANKRUPTCY:

Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors. This supervised division also allows the interests of all creditors to be treated with some measure of equality. Certain bankruptcy proceedings allow a debtor to stay in business and use revenue generated to resolve his or her debts. An additional purpose of bankruptcy law is to allow certain debtors to free themselves (to be discharged) of the financial obligations they have accumulated, after their assets are distributed, even if their debts have not been paid in full.

There are two basic types of Bankruptcy proceedings. A filing under Chapter 7 is called liquidation. It is the most common type of bankruptcy proceeding. Liquidation involves the appointment of a trustee who collects the non-exempt property of the debtor, sells it and distributes the proceeds to the creditors. Bankruptcy proceedings under Chapters 11, 12, and 13 involves the rehabilitation of the debtor to allow him or her to use future earnings to pay off creditors. Under Chapter 7, 12, 13, and some 11 proceedings, a trustee is appointed to supervise the assets of the debtor. A bankruptcy proceeding can either be entered into voluntarily by a debtor or initiated by creditors. After a bankruptcy proceeding is filed, creditors, for the most part, may not seek to collect their debts outside of the proceeding. The debtor is not allowed to transfer property that has been declared part of the estate subject to proceedings. Furthermore, certain pre-proceeding transfers of property, secured interests, and liens may be delayed or invalidated. Various provisions of the Bankruptcy Code also establish the priority of creditors' interests.

DISCLAIMER: WE ARE NOT ATTORNEYS AND
ARE NOT REPRESENTING OURSELVES AS LEGAL COUNSEL.

The above information provided is of public record and if you are in need of legal advice or have any questions regarding Bankruptcy, we suggest that you contact an attorney before contacting us. To access some free advice on Bankruptcy law just go to www.freeadvice.com

HOW D'ALBERTO REAL ESTATE INVESTMENTS, INC. CAN ASSIST YOU IN SELLING YOUR HOME EVEN IF YOU FILED BANKRUPTCY:

Whether you have filed Chapter 13 or Chapter 7 and you have property that you would like to sell, we can help you in doing just that. By contacting our office, one of our qualified representatives can help guide you through the process in selling your home to us. You will be asked a series of questions in order to help evaluate the property. All personal information will be kept confidential within our company. It is not too late to sell your home to us. If you would like to contact a representative now, please click on the "for more information" icon below, fill out the questionnaire and we will contact you within 48 hours. We look forward to hearing from you.

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