Chapter 7 is designed for debtors in financial difficulty who do not have the ability to pay their existing debts. In Chapter 7 cases, we seek to eliminate (disharge) your debts, while allowing you to keep your assets. The theory behind Chapter 7 is to give honest debtors a "fresh start."
The purpose of Chapter 7 is to obtain discharge of your exisitng debts. If, however, you are found to have committed certain kinds of imporper conduct described in the Bankruptcy Code , the court may deny your discharge. Call now to determine if Chapter 7 is right for you. back to top
Chapter 13: Repayment of All or Part of Debts of an Individual with Regular Income
Chapter 13 is designed for individuals with regular income who would like to pay all or part of their debts in installments over time. Chapter 13 helps individuals stop foreclosure and set up a plan to pay the mortgage arrears over a 3-5 year term. Credit cards will be paid a percentage of the total debt through the Chapter 13 plan.
Under Chapter 13, you must file with the court to plan to repay your creditors all or part of the money that you owe them, using your future earnings. The periord allowed by the court to repay your debts may be three to five years, depending on income and other factors.
After completing the payments under your plan, your debts are generally discharged with a few limited exceptions. Call to determine if Chapter 13 is right for you. back to top
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We are a debt relief agency. We help people file for bankruptcy under the bankruptcy code.
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