Chapter 7 vs. Chapter 13

Which type of Bankruptcy is best for you?

Chapter 7 and Chapter 13 Bankruptcy will both stop collection phone calls and lawsuits. Both provide exemptions to let you keep your house, car, retirement and other property.

The best type of bankruptcy for you depends on why you want to file.

Chapter 7 Bankruptcy

is normally used by someone only wanting to discharge unsecured debt like credit cards, medical bills, repossession deficiencies, etc. Chapter 7 bankruptcy does not stop a foreclosure or repossession. If you want to keep the property, you still have to pay for it.

Chapter 13 Bankruptcy

is normally used by someone wanting to stop a foreclosure or repossession. You may also file a chapter 13 bankruptcy if you can afford to repay some part of the unsecured debt. You do not have to repay 100% of the unsecured debt.

There are a number of other things to consider and our trained attorneys would be happy to examine your case at a free face to face consultation.