Federal bankruptcy laws establish processes for seeking relief from financial distress through proceedings in the United States Bankruptcy Court. Getting assistance from a knowledgeable, skillful bankruptcy lawyer is the best approach to navigating the complex bankruptcy system successfully. At the law firm of McLaughlin Quinn Cianciolo Bilodeau LLC, we draw on our extensive experience in representing individuals and businesses in all aspects of bankruptcy and restructuring matters. As trusted bankruptcy counsel recognized for our expertise, we provide the highest quality legal services for all types of personal and business bankruptcy relief.

When financial troubles arise, filing for bankruptcy can eliminate lawsuits, foreclosures, and harassing phone calls from collection agencies and tax collectors, which make the day-to-day running of a business or household extremely challenging and stressful. By applying our bankruptcy expertise to each client’s unique situation, we can stop creditor harassment and help individuals, families, and businesses obtain a fresh start through bankruptcy protection.

For businesses, our tax expertise at McLaughlin Quinn Cianciolo Bilodeau enables us to evaluate and explain all the tax implications in developing a bankruptcy strategy, which enables the client to make a fully informed decision on the best way to proceed.

Common Types of Bankruptcy

The U.S. Bankruptcy Code provides for multiple types of bankruptcy processes. Each type is known by the Chapter of the Code that establishes the process. The most common types of bankruptcy are Chapter 7, Chapter 11, and Chapter 13.

Any individual or business considering bankruptcy should consult with an experienced bankruptcy lawyer to determine the type of bankruptcy that best suits their circumstances. At McLaughlin Quinn Cianciolo Bilodeau, many of our clients pursue Chapter 7 bankruptcy, but we handle all types of bankruptcy matters.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy, referred to as straight bankruptcy, is the most common type of consumer bankruptcy. This process provides for liquidation (sale) of a debtor’s nonexempt property, with the proceeds distributed to creditors by the bankruptcy trustee. The bankruptcy court requires a demonstration of eligibility for filing a Chapter 7 bankruptcy, based on the debtor’s monthly income and expenses, assets, and debts.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy provides for reorganization, usually involving a corporation or partnership. The filer typically proposes a plan of reorganization to keep the business alive and pay creditors over time. Business owners and individuals may also seek relief under Chapter 11. In many cases, the filer remains in possession of the business or assets and may continue to operate the business.

Chapter 13 Bankruptcy

Filing for Chapter 13 bankruptcy enables the filer to establish a repayment plan to get control of their finances while under the protection of an automatic stay from the bankruptcy court. Filers make full or partial repayment to creditors, usually over a period of three to five years. After the payments are completed, many remaining debts are discharged. Chapter 13 may be an option for an individual or business who cannot qualify for Chapter 7 or for other reasons.

Individual Bankruptcy

When individuals face financial difficulty, filing for personal bankruptcy can be a powerful tool to stop creditor harassment, prevent mortgage foreclosure, and get relief from lawsuits, levies, and garnishments. Personal bankruptcy can also help remove judgment liens against a principal residence.

At McLaughlin Quinn Cianciolo Bilodeau, we have helped thousands of families and consumers in Rhode Island and Massachusetts obtain a financial fresh start through filing for bankruptcy. We represent clients in all Chapters of personal and consumer bankruptcy, including Chapter 7, Chapter 11, Chapter 12 (for farmers and fishermen), and Chapter 13. Whatever your needs are, your bankruptcy lawyer will be a trusted partner in navigating step-by-step through the process and helping you achieve a discharge of debt and a fresh start.

Business Bankruptcy

Businesses and business owners sometimes find themselves faced with mounting debt. Regardless of the cause, a business bankruptcy filing can provide a business owner with time to restructure debt and focus on future growth. Filing for bankruptcy may also provide the mechanism for an orderly liquidation or sale of a business or its assets.

With decades of experience representing businesses in bankruptcy proceedings, our in-depth knowledge and skill in representing business owners and their companies in bankruptcy can help your business survive and thrive for the future.

Receivership

In Rhode Island, receivership is an alternative to bankruptcy for distressed businesses and real estate projects. A Rhode Island receivership can be an effective tool and a viable option to help businesses and business owners deal with financial difficulty.

Our attorneys have been appointed as receivers and special masters for businesses and have acted as counsel to receivers and business owners. Based on our extensive experience, we are uniquely positioned to represent business owners, prospective buyers, and other stakeholders in receivership proceedings.

Alternatives to Bankruptcy

Bankruptcy or receivership may not always provide the best outcome for an individual or business in a distressed financial situation. When a client gets help from a bankruptcy lawyer at McLaughlin Quinn Cianciolo Bilodeau, we explore all alternatives for a financial fresh start for the client’s personal, family, or business situation.

We have many years of experience and substantial expertise helping clients with out-of-court negotiations with creditors, including secured lenders, mortgage holders, credit card companies, and taxing authorities. We take the time to work closely with each client to understand their financial situation and present realistic and creative solutions tailored for the unique financial needs of the client.

Talk With an Experienced Bankruptcy Lawyer

If you are considering filing for personal or business bankruptcy, we encourage you to talk with us about your situation. We can help you determine the best approach to relieving the financial difficulties you face. Contact us by calling 401-421-5115 or using the online contact form.

From our primary location in Providence, Rhode Island, and our Massachusetts offices in Boston and Westborough, McLaughlin Quinn Cianciolo Bilodeau assists individuals and businesses with bankruptcy and related matters in both states.