The Law Office of John M. Crane | Practice Areas

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• Practice Areas

• Bankruptcy
• Foreclosure Defense
• Loan Modification

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• What is Bankruptcy?

• Bankruptcy is a means for good people in bad
  situa- tions to legally get a fresh start.
• There are certain require- ments, but generally,
  any one meeting those requir- ements has a legal
  right to file bankruptcy.

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• Process For Filing Bankruptcy

• The purpose of the questionnaire is for the
  attorney to determine whether or not bankruptcy
  is right for you. If bankruptcy is determined to
  be your best option, the attorney will have to
  decide under which Chapter you will file.

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• Chapter 7 Bankruptcy

• In a Chapter 7 proceeding, a trustee appointed by
  the bankruptcy court will take custody of and
  sell off any of your non-exempt assets.
• The money received from this sale will be used to
  pay your creditors. Your debts are then
  discharged. This means that creditors are forever
  prohibited to try and collect on these discharged
  debts in the future. This means that after the
  discharge, you will continue to be liable for
  these debts.

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• Chapter 11 Bankruptcy

• An individual cannot file under chapter 11 or any
  other chapter if, during the preceding 180 days,
  a prior bankruptcy petition was dismissed due to
  the debtor's willful failure to appear before the
  court or comply with orders of the court, or was
  voluntarily dismissed after creditors sought
  relief from the bankruptcy court to recover
  property upon which they hold liens.

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• Chapter 13 Bankruptcy

• A Chapter 13 Bankruptcy is designed primarily for
  residential homeowners, and allows a person or
  married couple to pay off all, or a portion, of
  their debts under the super- vision and the
  protection of the U.S. Bankruptcy Court while
  remaining in their home.

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• Foreclosure Defense

• A foreclosure is a legal proceeding that is
  started by a lender after a home owner has failed
  to pay his/her mortgage

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• Loan Modification

• A loan modification is a permanent change in one
  or more terms of a borrower's home loan, allows
  the loan to be reinstated, and results in a
  payment the homeowner can afford.

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