The attorneys at Urban & Burt, Ltd.
can use the Bankruptcy Courts to help you...
There are several different types of cases which are
governed by the bankruptcy laws. The four most common are Chapter 7,
Chapter 13, Chapter 11, and Chapter 12. Chapter 7 is considered a straight
bankruptcy, while Chapters 13, 11, and 12 are forms of reorganization.
In 2005, Congress made numerous changes to bankruptcy law in an attempt to
“prevent abuse.” Unfortunately, those changes were made at the
requests of the banking lobby and have had a serious negative impact on
many middle class individuals. These changes include, a requirement of debt
counseling before a case can be filed, completion of 'means testing',
filing of pay stubs and tax returns to confirm that the debtors cannot
afford to pay their debts. The attorneys at Urban & Burt, Ltd. have
studied the new Bankruptcy laws and can still use the laws to our
You should discuss your entire financial situation with your attorney.
Proper consultation with an attorney concentrating in the bankruptcy field
will ensure that you obtain the best possible result from the many types of
bankruptcy relief available.
Through bankruptcy, many debtors are able to re-establish their credit and
get a fresh start. You should remember that bankruptcy law is rooted in the
basic foundation of our country. The United States Constitution Article I ,
Section 8 provides that:
The Congress shall have Power To establish uniform Laws on the subject of
Bankruptcies throughout the United States.
That is the same section of the Constitution that provides Congress the
authority to collect Taxes, pay the Debts and provide for the common
Defense and general Welfare of the United States. Obviously our founding
fathers thought the Bankruptcy relief was an important constitutionally
You should always remember that while filing for Bankruptcy relief should
be considered and discussed with your attorney. You should never feel
embarrassed or ashamed of making a decision to file for relief. If you
choose that course remember that you are in the company of millions of
regular Americans that have made that choice to get a fresh start.
Additionally, some famous individuals and businesses who found it necessary
to file bankruptcy include:
Mark Twain, Oscar Wilde, Henry Ford, Mickey Rooney, Debbie Reynolds, Johnny
Unitas, Francis Ford Coppola, George McGovern, Anita Bryant, Marvin Gay,
David Crosby, Elton John, Kim Basinger, John Wayne, Mike Tyson, Burt
Reynolds, Thomas Jefferson, Abraham Lincoln, Ulysses S. Grant, Harry S.
Truman, Gary Coleman, MC Hammer, Willie Nelson, Lorraine Bracco, Charles
Goodyear, PT Barnum, Jerry Lee Lewis, Wayne Newton, Walt Disney, Merle
Haggard, Dorothy Hamill, Larry King, United Airlines, Kmart, Baldwin Piano
& Organ Company, Dow Corning Corporation, Loews Cineplex Entertainment,
Inc., and Texaco.