Eliminate your debts and obtain a fresh start
CHAPTER 7 BANKRUPTCY
Chapter 7 Bankruptcy is the most common form of bankruptcy and is generally cheaper and faster than other bankruptcy options.
Most people are able to keep all of their property and discharg
their debts in Chapter 7 bankruptcy without losing anything. For individuals with non-exempt assets Chapter 13 or Chapter 11 bankruptcy might be a better option.
CHAPTER 13 BANKRUPTCY
Unlike Chapter 11 bankruptcy, Chapter 13 bankruptcy is only available to individuals. In Chapter 13 Bankruptcy you will propose a “repayment” plan of 3-5 years. Chapter 13 offers potential benefits not available in Chapter 7, such as providing individuals with the chance to catch up on mortgage payments, allowing individuals to keep certain non-exempt assets, and in some cases providing individuals with the opportunity to remove a second mortgage.
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