Chapter 7 bankruptcy, also called "straight" or "liquidation" bankruptcy, is a relatively fast process designed to discharge commonly unsecured debts like credit card bills and medical expenses.
As many as 65% of all U.S. consumer bankruptcy filings are Chapter 7 cases. For more information about Chapter 7, see our Overview of Chapter 7 Bankruptcy.
In Chapter 13, the debtor retains ownership and possession of all of his or her assets, but must file a repayment plan to pay back all or a portion of his debts over time.
The amount of payment and the period of the repayment plan depend upon a variety of factors, including the value of the debtor's property and the amount of a debtor's income and expenses. For more information about Chapter 13, see our Overview of Chapter 13 Bankruptcy.
Individuals unfamiliar with the bankruptcy law may find the legal process quite daunting. Don't let this stop you from achieving a better financial future. Bankruptcy Lawyer provides helpful answers to all of your bankruptcy questions and is here to guide you in handling your debt. read more
The objective of this website is to provide the person thinking about filing bankruptcy withthe information necessary to make an informed decision. You will have a good understandingof what the law allows when you meet with one of our bankruptcy lawyers.