A Chapter 7 Bankruptcy generally wipes out all of your unsecured debt. For secured debts, you have the option of reaffirming the debt, surrendering the property, or redeeming the property by paying the balance of the debt. Although bankruptcy filing is a Constitutional Right, debtors must meet certain income qualifications to file. Call today for a free consultation to determine if this type of relief is best for you.
A Chapter 13 Bankruptcy gives the filer the ability to repay some or all of his or her debt. Debtors make payments to the Bankruptcy Trustee for a period ranging from 36 to 60 months, with remaining (qualifying) debt being discharged after completion of the plan. The filing attorney creates the customized plan according to each individual’s financial situation. Call today to see if a Chapter 13 Bankruptcy could help you get control over your debt.