Chapter 7 vs. Chapter 13 Bankruptcy
We’ll help you choose between filing Chapter 7 or Chapter 13
Both Chapter 7 and Chapter 13 bankruptcy help you overcome debt challenges, but they have unique approaches in how they do it. Whether you should file Chapter 7 or 13 depends on 1) Your income 2) Your assets, and 3) Your goals for eliminating debt. The image below shows the main differences between the two types of bankruptcy.
Benefits of Chapter 7 Bankruptcy
- Get rid of all unsecured debt (credit cards, medical bills, etc)
- Only takes 3-5 months to complete the process
Benefits of Chapter 13 Bankruptcy
- Allows you to keep your assets instead of losing them
- Creates a manageable debt payment plan that lasts 3-5 years
Start Your Free Chapter 7/13 Evaluation
Our bankruptcy attorney can explain the two types in greater detail and help you decide which one is your best option. Start by getting a Free evaluation.