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Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors. This supervised division also allows the interests of all creditors to be treated with some measure of equality. Certain bankruptcy proceedings allow a debtor to stay in business and use revenue generated to resolve his or her debts. An additional purpose of bankruptcy law is to allow certain debtors to free themselves (to be discharged) of the financial obligations they have accumulated, after their assets are distributed, even if their debts have not been paid in full.

Bankruptcy lawyers are attorneys that will work on your behalf to assist with the filing of bankruptcy, or protection from bankruptcy. They also assist parties that are owed money in collection from parties that are filing bankruptcy. Bankruptcy lawyers will work with you to review the facts at hand, handle proper court procedures and filings, and determine your legal standing and best options. Your bankruptcy attorney will also work to determine if settlements can be made and if avoiding bankruptcy is possible.