Contact Us: 800-585-3169


Vermont Bankruptcy Services

Law Office James Palmisano
417 Barre Street
Montpelier, Vermont 05602
Phone: (800) 585-3169
Phone: (802) 229-4001
Fax: (802) 229-2733

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.:Personal Bankruptcy:.

Bankruptcy is a court action to eliminate (discharge) your debts. The terms Chapter 7 and Chapter 13 Bankruptcy come from the sections of the federal bankruptcy law that contain these provisions. Spiraling credit card debt, the sudden loss of a job, medical bills, a divorce can wipe out a life’s savings. For many, bankruptcy provides a second financial chance.

In Chapter 7 you eliminate your debts completely.  A Chapter 7 case usually lasts about 3 to 4 months.  Chapter 7 eliminates credit card debts, medical bills, judgments, taxes, loans and other debts.  In Chapter 13 you repay some or all of your debts over a 3 to 5 year period.  Chapter 13 stops foreclosures, repossessions and evictions.


All cases in Vermont are filed at the U.S. Bankruptcy Court in Rutland. Bankruptcy hearings are held either in Rutland or Burlington. In order to file in Vermont you must have been a Vermont resident for at least three out of the last six months.  In order to file Chapter 7 you must not have filed and received a discharge in a prior Chapter 7 case within the last 8 years.  There are no limitations on how often you can file Chapter 13, but you cannot obtain a Chapter 13 Discharge if you obtained a discharge in a Chapter 7 case within the past 4 years, or in a Chapter 13 case within the past 2 years.


.:Business Bankruptcy:.

For many reasons, businesses may face serious cash flow issues at one point or another. Pressures from vendors and creditors can make it worse. Many businesses, especially those 10 years and younger, started with personal guarantees on certain debts. As a result, the financial concerns of struggling business owners can extend beyond their own business. Indeed, it is not uncommon for personal assets and finances to be at risk. For businesses in financial distress, bankruptcy may be an option. Some business seek bankruptcy protection while they reorganize -- giving themselves a little breathing room. Others seek it to wind down operations. 

Click Here to read "Why bankrupt a corporation?.

No matter what the situation, business bankruptcies can be complex, especially if they involve issues of wages, benefits, deposits on services or merchandise, or tax contributions and payments.


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