Practice Areas and Legal Definitions

Every year, more than 1,000,000 Americans file for protection under the federal bankruptcy laws. Although some bankruptcy debtors are deemed as credit abusers and/or considered financially irresponsible, many hardworking individuals and businesses can succumb to genuine financial difficulties. Bankruptcy is designed as a legal option to help solve financial problems. To discuss your legal options, contact The Schreiber Law Firm, LLC who can advise you of your legal rights.

New Bankruptcy Laws:
The bankruptcy laws are enacted by Congress. They are designed to help individuals and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can be described as liquidations or reorganizations. Under a liquidation bankruptcy (Chapter 7), a debtor files to eliminate debt. Under a Chapter 13 bankruptcy, a consumer or small business debtor files a plan with the bankruptcy court proposing how to repay creditors. Similarly, under a Chapter 11, a business debtor is afforded an opportunity to file a plan by which it proposes to treat and pay creditors.

Chapter 7:
Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, partnership or LLC. A Chapter 7 bankruptcy case does not involve the filing of a plan of repayment. Part of the debtor's property may be subject to liens and mortgages that encumber the property. The Bankruptcy Code will allow the debtor to keep exempt property and certain mortgaged and or liened property.

Chapter 13:
A Chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installment payments to a Chapter 13 trustee for a term of no less than three years. Chapter 13 permits individuals to keep their property by repaying creditors with their future income. It is not available to corporations or partnerships. After completion of payments under the confirmed plan, Chapter 13 debtors receive a discharge of remaining, unpaid debts.

Debt Consolidation:
Contrary to popular belief, debt consolidation is not a loan. Debt consolidation is a process by which debt is restructured into one low monthly payment. It further enables a consumer to reduce the amount owed and thereby eliminate interest. Very often a consumer can detect warning signs of being in too much debt long before any collection notices are received. If more than two of the following signs apply to you, you are probably in too much debt:

• You are charging to your credit card essential expenses like food and daily expenditures
• You are making only the minimum payments on your credit cards each month
• You are near the limit of your credit cards
• You have too many credit cards
• You are unsure how much money you owe creditors

Chapter 11:
The Schreiber Law Firm, LLC represents companies in financial distress. The firm's practice includes out-of-court debt restructurings, Chapter 11 reorganizations in courts throughout the United States, and receiverships. Chapter 11 allows a company to remain in business while it addresses its financial problems. Chapter 11 is based upon the premise that a business, even though not currently able to meet its obligations, can often be restructured so that creditors and stockholders will receive more from future profits (or a sale of the restructured company) than from a forced liquidation of assets by a bankruptcy trustee under Chapter 7 of the Bankruptcy Code. An ailing company will typically consider Chapter 11 if its business, or some portion of it, is likely to be worth substantially more as a going concern than on the auction block. Chapter 11 also may be used as an orderly way to liquidate a company's assets and wind up its affairs.

If you or someone you know needs the assistance of an experienced Indiana Bankruptcy law firm, contact The Schreiber Law Firm today toll free at 866-697-7131, or complete the contact form provided on this site to arrange for your free consultation.

If you or someone you know need the assistance of an experienced Indiana Bankruptcy law firm, contact The Schreiber Law Firm today at 866-697-7131, or complete the contact form provided on this site to arrange for your free consultation.

ADDRESS OF FIRM:
The Schreiber Law Firm, LLC
810 S. Baldwin Avenue
Marion, IN 46953
Phone: 866-697-7131
Hours: M-F, 8:00AM-5:00PM

MEMBERS OF THE FIRM:

•  Jeff A. Schreiber

EDUCATION:

• Bowdoin College , B.A., 1979
• Syracuse University College of Law, J.D., 1982

ADMITTED TO PRACTICE LAW IN:

• Indiana
• New York
• Massachusetts
• New Hampshire
• Washington , D.C.
• Federal Courts In These Jurisdictions

PROFESSIONAL MEMBERSHIPS:

• Member of Private Panel of Chapter 7 Bankruptcy Trustees, Office of the U.S. Trustee for the First Circuit, U.S. Department of Justice (1988-2004)
• Indiana Bar Association
• National Association of Consumer Bankruptcy Attorneys
• American Bankruptcy Institute
• Massachusetts Bar Association
• Boston Bar Association (1983 - present, Business Reorganization and Commercial Law Committee)
• National Association of Retail Collection Attorneys

PUBLICATIONS:

• "Allowing to Fail: Should the Bankruptcy Laws be Eliminated?" BOSTON BUSINESS JOURNAL 36 (Vol. 17, No. 40 November 14 - 20, 1997).
• "Non-Fraudulent Transfers Under Bankruptcy Act," 14 MASSACHUSETTS LAWYERS WEEKLY 913 (Vol. 14, No. 25 March 10, 1986).
• "Bankruptcy Amendments & Federal Judgeship Act," 13 MASSACHUSETTS LAWYERS WEEKLY 413 (Vol. 14, No. 13 December 17, 1984).
• "Consumer Debtor Alternatives: An Approach to Insolvency Counseling under the Bankruptcy Reform Act," 87 COMMERCIAL LAW JOURNAL 475, 573, 636 (October, November & December 1982), reprinted in 37 PERSONAL FINANCE LAW QUARTERLY 19 et seq. (Winter 1983).
• "Medical Implants and the Law," 1982 MEDICAL TRIAL TECHNIQUE QUARTERLY 445.
• "Dries v. Gregor: A Case Study of Informed Consent Doctrine in New York," 53 NEW YORK STATE BAR JOURNAL 431 (October 1981).