New Mexico bankruptcy filings: Nuts and Bolts

Many people do not know much about how to file for bankruptcy relief. Bankruptcy matters are governed by federal bankruptcy law and are heard in federal bankruptcy court. The U.S. Bankruptcy Court of the District of New Mexico is located in Albuquerque, where most hearings are held. Some matters are also heard by judges in Roswell and Las Cruces.

A bankruptcy case begins when a person or business files a petition in the U.S. Bankruptcy Court. Along with the petition, the debtor(s) will submit the required documents containing detailed information about the debtor’s assets and liabilities.

The debtor chooses a chapter of the U.S. Bankruptcy Code under which to file the petition. The website of the U.S. Bankruptcy Court in New Mexico provides statistics about filings within the district. As of this writing, so far in 2016, the numbers are:

· Chapter 7 liquidation or consumer bankruptcy: 2,279 petitions filed and 2,278 cases closed

· Chapter 13 reorganization or wage-earner bankruptcy: 226 petitions filed and 233 cases closed

· Chapter 11 business bankruptcy: 26 petitions filed and 28 cases closed

· Chapter 12 family farm bankruptcy: 1 petition filed and zero cases closed

In Albuquerque and throughout New Mexico, the law firm of Giddens & Gatton Law,amp; Jacobus has bankruptcy attorneys who offer expert handling of Chapter 7, Chapter 11, Chapter 12 and Chapter 13 bankruptcy cases and can specifically provide advice as to bankruptcy and its alternatives.

We represent both debtors and creditors from all over the great state of New Mexico Contact Giddens & Gatton Law,amp; P.C., at 505-273-3720 to set up an appointment or visit the firm’s website at Giddens & Gatton Law,amp; P.C., is located at 10400 Academy Road N.E., Suite 350 in Albuquerque, New Mexico.