What is Bankruptcy?

Importantly, it is not the end of the world. Simply put, it is a legal way to recover from a myriad of financial problems. It offers a person or business the opportunity to start over by forgiving debts that otherwise can’t be paid.

Parker & DuFresne understands that the decision to file for bankruptcy is a difficult one. We can help you eliminate debt, stop foreclosures, repossessions and wage garnishments.

The bankruptcy process involves the following basic steps:

  • A petition is filed by a debtor (most often) or by creditors (least often).
  • The debtor’s assets are measured and evaluated by way of a Means Test.
  • The Court determines the terms of repayment.
  • Assets are used to repay a portion of the debt, as determined by the Court.
  • Upon completion of repayment, the debtor is relieved of the debts that made filing necessary in the first place.

As basic as the steps are, the process itself can be difficult. The legal team at Parker & DuFresne is prepared to guide you through the process in such a way that you are comfortable, confident, and not overwhelmed. Through patient and respectful consultation with you, our attorneys will determine if and what kind of bankruptcy is right for you.

Call today to set up your free consultation! 904-853-3291

Client Reviews
★★★★★
I was provided with a free consultation and was given great advice. I would definitely recommend Chip Parker to anyone who needs assistance with financial law.
★★★★★
Chip's law firm helped me through the bankruptcy process with ease. The staff was always willing to answer questions and ensured that their answers were provided in a timely manner. A great firm to represent you. Kevin
★★★★★
Mr. Parker and Mr. DuFresne along with their staff went the full mile to help my wife and I through some tough financial difficulties. They take great pride in doing what thy do and I would recommend them to anyone. Robert
★★★★★
Chip Parker autographs his work with excellence. Finding an attorney with real integrity in today's world of law is not an easy task. Chip believes in balancing the scale of Justice and removes the blind fold so the injustices are clearly seen. Thanks for all the good you and your firm achieve. Joy
★★★★★
I took a very complex problem to Chip, and he spent a generous amount of time outlining specific options. Chip has an amazing ability to grasp the important issues and quickly narrow down the key points. He is the best person to have on your side. Phenie