Chapter 7 vs. Chapter 13
Bankruptcy Attorney
Many individuals need legal help when they find themselves in the position of serious financial stress. Our legal team has helped countless individual and their families in getting a fresh start through filing either Chapter 7 or
Chapter 13 bankruptcy. These are two very different forms of
bankruptcy, and your situation will determine what will work best for you. We will help you by reviewing your financial condition and advising you how the process works, and what to expect every step of the way.
When "filing for bankruptcy" is discussed, most people are referring to a Chapter 7 bankruptcy petition, which is also called "liquidation bankruptcy" or "discharge of debt". This is the form of bankruptcy in which your consumer debt is discharged - when the process is complete you will no longer owe the majority of your bills. You will enjoy many changes and benefits including the following:
- Eliminate your debts
- Stop wage garnishmentUtility shut-offs halted
- Stop home foreclosure actions
- No more personal unsecured loans
- Certain IRS debt no longer owed
- Medical bills discharged
- No more creditor calls or letters
- Lawsuits halted
- Get your license back
Are you eligible for Chapter 7 or Chapter 13?
There are some people who do not wish to file Chapter 7 or have too many assets to qualify for this type of bankruptcy. They may choose to use Chapter 13, which gives you the opportunity to pay off more of your obligations. This form of bankruptcy is for those who are making a steady paycheck, either as an employee or through their own business. When you hope to avoid losing all your assets, this is usually the right option, as you will be paying off your debts over a 3 - 5 year period at a reasonable payment that you can afford. To determine which form of bankruptcy or other solution will work best for your situation, it is strongly advised that you act quickly and contact Bizar & Doyle for a free initial consultation about your situation. Our attorneys are here to help you resolve serious financial problems and are very experienced and always provide personal service to our clients.
Contact a Bankruptcy Attorney
to determine whether to file Chapter 7 or Chapter 13 bankruptcy.
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