Foley Freeman has been a leader in Idaho bankruptcy law for over 25 years, offering services for consumers and businesses in Chapter 7, 11, 12, and 13 bankruptcies. Bankruptcy attorney Patrick Geile is Chair of the Commercial Law & Bankruptcy Section of the Idaho State Bar, as well as a consistent presenter at annual bankruptcy seminars.

Our bankruptcy lawyers assist both debtors and creditors in bankruptcy, giving us a unique and valuable perspective of the bankruptcy process, which greatly benefits our clients.

Types of Bankruptcy Available to Consumers & Businesses

The United States Bankruptcy Code provides for different types of bankruptcy depending on the needs of consumers and businesses facing financial difficulties and creditor harassment. Chapter 7 and Chapter 13 cases are most frequently filed by individual debtors, while Chapter 11 cases are most often filed by businesses as a means to restructure debt. Chapter 12 is designed specifically for the reorganization of family farms.

  • Chapter 7 Bankruptcy – Chapter 7 bankruptcy provides debtors with relief from dischargeable, unsecured debts, such as credit card debt and medical bills, in exchange for liquidation of “non-exempt” assets. Both individuals and businesses may file for Chapter 7 bankruptcy.
  • Chapter 11 Bankruptcy – Chapter 11 provides for the reorganization of debt, usually involving a corporation or partnership; however, individuals in business can also seek relief under Chapter 11. In contrast to Chapter 7, which would require a business to liquidate, Chapter 11 business bankruptcy allows a business to keep many of its assets and pay creditors over time. Also, Subchapter V was enacted under the Small Business Reorganization Act of 2019 (SBRA), and in certain circumstances provides a more streamlined reorganization for small businesses.
  • Chapter 12 Bankruptcy – Chapter 12 is another form of reorganization bankruptcy with additional benefits to farmers and fishermen beyond those available to ordinary wage earners. Chapter 12 allows family farms to reduce debt load and restructure debt so that the farm may become viable in the future.
  • Chapter 13 Bankruptcy – Chapter 13 bankruptcy, commonly known as “individual debt adjustment” or “individual debt consolidation,” is a form of consumer bankruptcy based on debt reorganization. Using a repayment plan, the debtor pays back his or her creditors while avoiding foreclosure, levies, wage garnishments, liens, and other methods used to collect on debts.

Seek Experienced, Supportive Legal Counsel

With decades of combined experience, our bankruptcy attorneys have represented clients in virtually every type of bankruptcy case. Whether your debt stems from a lost job, failed business, divorce, unexpected medical expenses, or back taxes, we can help you obtain a fresh start and begin rebuilding your credit. Please contact Foley Freeman to schedule a consultation with an experienced bankruptcy lawyer and learn more about our debt relief services.