Boise Bankruptcy Lawyers

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Financial problems can affect individuals, families, businesses, and creditors in very different ways. The right solution depends on the debt involved, available assets, income, business operations, collection activity, and the client’s long-term goals.

Johnson May represents debtors and creditors in bankruptcy and related financial matters throughout Boise and Idaho. Our bankruptcy attorneys assist individuals seeking debt relief, businesses considering reorganization or liquidation, family farmers and fishermen, creditors protecting their rights, and parties involved in bankruptcy disputes.

Bankruptcy is not always the only option. Our attorneys evaluate the circumstances and help clients understand bankruptcy, restructuring, workouts, and other possible solutions before deciding how to move forward.

Bankruptcy Services We Handle

Johnson May provides bankruptcy representation to individuals, businesses, creditors, and other parties involved in financially distressed situations.

Our bankruptcy services include:

• Chapter 7 bankruptcy for individuals
• Chapter 7 bankruptcy for businesses
• Chapter 11 bankruptcy and business reorganization
• Chapter 12 bankruptcy for qualifying family farmers and fishermen
• Chapter 13 bankruptcy for individuals
• Small-business bankruptcy
• Creditor rights and recovery
• Bankruptcy litigation
• Automatic stay disputes
• Preference claims
• Fraudulent transfer claims
• Claims involving bankruptcy estate assets
• Plans of reorganization and asset sales
• Real and personal property foreclosures
• Recovery of leased equipment
• Deficiency claims
• Enforcement of lease agreements
• Receiverships
• Corporate and LLC wind-downs
• Non-bankruptcy workouts and restructuring

Our Boise bankruptcy lawyers represent both sides of financially distressed matters. Understanding the rights and responsibilities of debtors and creditors allows our attorneys to evaluate the larger financial and legal picture when developing a strategy.

Understanding the Bankruptcy Process

Bankruptcy is primarily governed by federal law through the United States Bankruptcy Code. Idaho law can still affect certain parts of a bankruptcy case, including exemptions that may protect qualifying property.

A bankruptcy case generally begins when a petition and required financial information are filed with the appropriate bankruptcy court. Depending on the type of case, a debtor may need to disclose income, expenses, debts, assets, contracts, and other financial information.

Different bankruptcy chapters accomplish different goals. Some cases involve liquidation, while others allow debts and obligations to be reorganized through a repayment or restructuring plan. Choosing the appropriate chapter requires reviewing the client’s full financial circumstances rather than simply looking at the amount of debt.

Chapter 7 Bankruptcy

Chapter 7 is commonly used by individuals seeking relief from debts they cannot reasonably repay. It is a liquidation form of bankruptcy in which a trustee evaluates the bankruptcy estate and determines whether non-exempt assets are available for creditors.

Many unsecured debts may be discharged through Chapter 7, but not every debt can be eliminated. Certain taxes, domestic support obligations, student loans, and other debts may receive different treatment under bankruptcy law.

Eligibility and the effect of filing depend on income, assets, debts, previous bankruptcy cases, and other circumstances. Our Boise bankruptcy attorneys help clients evaluate whether Chapter 7 is an appropriate option and what property or obligations may be affected.

Chapter 13 Bankruptcy

Chapter 13 allows qualifying individuals with regular income to reorganize their debts through a repayment plan rather than proceeding through a Chapter 7 liquidation.

A Chapter 13 plan can provide time to address certain financial obligations while the debtor remains under bankruptcy protection. Depending on the circumstances, it may be used to address missed mortgage payments, collection activity, garnishments, and other debts.

Chapter 13 is not simply the alternative for anyone who does not qualify for Chapter 7. Each chapter has different requirements and consequences. Our attorneys review the client’s income, assets, debts, and goals before recommending a course of action.

Chapter 11 Bankruptcy and Business Reorganization

Chapter 11 can give a financially distressed business an opportunity to restructure its obligations while continuing operations. It may also be available to individuals in certain complex financial situations.

Business reorganization can involve debts, contracts, leases, secured creditors, employees, assets, ownership interests, and ongoing operations. A successful strategy therefore requires more than simply filing a bankruptcy petition.

Johnson May has substantial experience with Chapter 11 matters. Our attorneys help businesses evaluate reorganization options, address creditor claims, work through restructuring issues, and develop a realistic path forward.

Small-Business Bankruptcy

Financial distress does not always mean a business needs to close. For some companies, restructuring debt or other obligations may provide an opportunity to continue operating.

Johnson May helps small businesses evaluate Chapter 11 and other restructuring options based on their debts, assets, cash flow, contracts, and business goals.

We also assist businesses when reorganization is not practical and the company needs to wind down operations or address liabilities in an orderly way. The appropriate strategy depends on the company’s financial condition and what its owners hope to accomplish.

Chapter 12 Bankruptcy

Chapter 12 is a specialized bankruptcy option designed for qualifying family farmers and family fishermen. It provides a process for reorganizing debt while recognizing the financial structure and income patterns common to agricultural and fishing operations.

Eligibility for Chapter 12 depends on requirements established under federal bankruptcy law. Not every agricultural business or property owner will qualify.

Johnson May assists qualifying clients with Chapter 12 matters and helps them evaluate how bankruptcy may affect operations, assets, creditors, and future financial obligations.

The Automatic Stay and Collection Activity

Filing a bankruptcy petition generally triggers an automatic stay that restricts many collection actions against the debtor. Depending on the circumstances, this can affect lawsuits, garnishments, foreclosures, repossessions, and other collection efforts.

The automatic stay is not unlimited, and exceptions can apply. Creditors may also ask the bankruptcy court for permission to proceed with certain actions.

Johnson May advises debtors about the protections of the automatic stay and represents creditors seeking to understand or enforce their rights when a bankruptcy filing affects collection efforts.

Creditor Rights in Bankruptcy

Bankruptcy affects creditors as well as debtors. A creditor may need to file or defend a claim, respond to a proposed plan, address collateral, seek recovery of property, or challenge an action that affects its ability to collect.

Johnson May represents creditors in bankruptcy and non-bankruptcy matters. Our attorneys help clients evaluate their rights and determine which actions may be available to protect a financial interest.

Creditor representation may involve:

• Real and personal property foreclosures
• Recovery of leased equipment
• Deficiency claims
• Enforcement of lease agreements
• Recovery of amounts owed
• Automatic stay matters
• Reorganization plans
• Sales of bankruptcy estate assets

Early involvement can be particularly important because bankruptcy cases contain deadlines and procedures that may affect a creditor’s rights.

Bankruptcy Litigation

Some bankruptcy cases develop into disputes that require litigation. These matters may involve debtors, creditors, trustees, business principals, or other parties with an interest in property or financial claims.

Johnson May represents clients in bankruptcy litigation involving:

• Preference claims
• Fraudulent transfer claims
• Automatic stay disputes
• Claims involving assets of the bankruptcy estate
• Objections to or support for reorganization plans
• Sales of bankruptcy estate assets

Bankruptcy litigation can involve both federal bankruptcy law and underlying contracts, property rights, business transactions, and financial records. Our attorneys evaluate those issues together when representing a client in a contested matter.

Non-Bankruptcy Workouts and Restructuring

Bankruptcy is not necessarily the best solution for every financially distressed individual or business. In some cases, parties may be able to restructure obligations or resolve financial problems outside the bankruptcy process.

Johnson May represents debtors, business principals, purchasers, and creditors in non-bankruptcy reorganizations and workouts. Our attorneys may work with financial and accounting professionals to evaluate available options.

Addressing financial problems before they become an emergency can provide more room to consider alternatives. The best approach depends on the debts, assets, contracts, collection activity, and financial condition involved.

Receiverships and Business Wind-Downs

Johnson May also represents clients in receivership matters and the winding up of corporations and limited liability companies.

A business facing serious financial problems may need to address assets, debts, contracts, creditors, and ownership responsibilities even when a traditional bankruptcy filing is not the chosen path.

Our attorneys help clients evaluate the legal issues involved and determine an orderly approach based on the company’s circumstances.

Why Clients Choose Johnson May for Bankruptcy Matters

Bankruptcy FAQs

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Chapter 7 generally involves liquidation and may allow qualifying individuals to discharge certain debts. A trustee evaluates the bankruptcy estate and determines whether non-exempt assets are available for creditors. Chapter 13 uses a repayment plan for qualifying individuals with regular income. Which option is appropriate depends on income, assets, debts, financial goals, and other circumstances.

Does filing bankruptcy stop wage garnishments and collection actions?

Filing a bankruptcy petition generally creates an automatic stay that stops many collection actions. Depending on the circumstances, this may affect garnishments, lawsuits, foreclosures, repossessions, and other collection efforts. There are exceptions, and the stay does not necessarily prevent every action. A bankruptcy attorney can explain how it may apply to a particular situation.

Does Chapter 7 eliminate all debt?

No. Chapter 7 can discharge many types of debt, but some obligations may not be dischargeable. The treatment of a particular debt depends on bankruptcy law and the circumstances surrounding the obligation. Clients should have their debts reviewed before assuming that a bankruptcy filing will eliminate them.

Can a business file Chapter 7 bankruptcy?

Yes. Businesses may use Chapter 7 in certain circumstances, particularly when the company is no longer able to continue operations and liquidation is appropriate. Business Chapter 7 differs from an individual consumer case, including how discharge and company assets are treated. Business owners should review the company’s debts, assets, contracts, and potential personal obligations before deciding how to proceed.

Can a business continue operating during Chapter 11 bankruptcy?

Chapter 11 is generally designed to allow a business to reorganize its financial obligations and may permit operations to continue while the case proceeds. However, Chapter 11 involves court oversight, legal requirements, creditor interests, and financial reporting. Whether reorganization is realistic depends on the company’s finances and ability to develop a workable plan.

Can creditors take action after someone files bankruptcy?

The automatic stay restricts many creditor actions after a bankruptcy petition is filed. Creditors should not assume that collection activity can continue normally once they learn about a bankruptcy case. Creditors still have rights within the bankruptcy process and may be able to seek relief from the stay or take other permitted actions. Legal advice can help determine the appropriate response.

Is bankruptcy the only option for a struggling business?

No. Some businesses may be able to negotiate with creditors, restructure obligations, pursue a workout, sell assets, or use another strategy outside bankruptcy. Johnson May assists with both bankruptcy and non-bankruptcy restructuring matters. Reviewing the available options early can help a business determine whether bankruptcy is necessary.

What information does a bankruptcy lawyer need to review my situation?

A bankruptcy attorney will generally need information about income, expenses, debts, assets, property, contracts, collection activity, and other financial obligations. Business clients may also need to provide company financial records, leases, loan documents, ownership information, and other records. Complete information helps the attorney evaluate which bankruptcy chapter or alternative may be appropriate.

Speak With a Boise Bankruptcy Lawyer

Financial distress can create immediate pressure, but filing bankruptcy is an important legal decision that should be based on a full understanding of the available options.

Johnson May represents individuals, businesses, creditors, and other parties in Chapter 7, Chapter 11, Chapter 12, Chapter 13, bankruptcy litigation, creditor rights, receiverships, and non-bankruptcy restructuring.

Call Johnson May at (208) 384-8588 to schedule a confidential initial meeting with a Boise bankruptcy lawyer.