bankruptcy management

frequently asked questions


Is my inquiry confidential and secure from other institutions, financial or otherwise?

CFO's policy is to maintain the utmost security.  Any information/documentation provided to CFO is not shared or released without prior written consent from any prospective or current client.  We are not in the shared information business.  Our integrity and technology allow us to give you this guarantee.


How do the new bankruptcy laws affect my situation?

It varies from state to state.  The simplified goal of the new law is to make sure you are actually bankrupt.  The evaluation process of your assets is much more scrutinized.  YOu will have to avail yourself of some type of professional credit counseling.  We can educate you on BAPCPA laws.  Our dedicated, experienced and professional staff will inform you of every financial option prior this drastic step.


Which Chapter filing works for me?

There are only three - Chapter 7, 11 and 13.  Chapter 13 is a personal full repayment plan over five years overseen by a court appointed trustee.  Chapter 7 is a total corporate liquidation; and Chapter 11 is a corporate attempt to stay in business while avoiding liquidation.  The court oversees the total reorganization and will ensure repayment of all contractual debt obligations.

How much does it cost?

Unfortunately, we can not provide legal advice over the internet.  However, upon contacting us, we can apprise you of your options and direct you to a cost sensitive local legal representative within our network.  There may very well be other options that can meet your financial needs prior to this drastic step.


Are my personal and business assets at risk?

Depending on the Chapter you file, they very well may be at risk.  There are many variables from state to state.  We are knowledgeable of the current laws regarding all chapter filings.  We will educate you on your options.  There may be other financial options still available.  Our seasoned staff will, at no cost, evaluate your individual situation on a confidential basis.