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BANKRUPTCY: Chapter 7 and Chapter 13

Sometimes life gets out of control and our debts begin to multiply to an unmanageable level. There is a way out from under all of your debts. Our law office is a federally mandated debt relief agency, and can help you evaluate whether you qualify for Bankruptcy Protection. Filing for Bankruptcy can stop the creditors from calling, stop the wage garnishment and may save your home and your car.


If you qualify, a Chapter 7 Bankruptcy Petition will permit you to discharge most of your unsecured debts. You may even be able to keep your home provided you are able to make the monthly mortgage payments and your cars if you continue to make the car payments. Your unsecured debts include credit card debts, judgments, medical bills, liens, loans, and insurance surcharges. Some assets are exempt from liquidation, including social security benefits and retirement or 401k accounts, debts such as student loans, taxes, child support and alimony cannot be discharged under Chapter 7 Bankruptcy.


If you qualify, a Chapter 13 Bankruptcy Petition will help you to restructure the debts that you have into a more manageable payment schedule called a “Chapter 13 Plan’. You may also be able to keep your home if you have a substantial amount of equity by restructuring the repayment of the mortgage on that home. This is a more expensive option than a Chapter 7 Petition, but may serve your needs better if you have assets that you need to retain.