Chapter 7 Bankruptcy
If you are struggling with overwhelming debt, we can help. One option is filing a Chapter 7 bankruptcy, which is the most common kind of personal bankruptcy. A Chapter 7 bankruptcy may discharge credit card debts, medical debts, personal loans, business debts, among other unsecured debts. Since Chapter 7 bankruptcy has specific requirements, an income analysis is necessary to determine whether your average monthly income passes the means test to qualify.
Chapter 13 Bankruptcy
A Chapter 13 bankruptcy is a legal tool that allows debtors to create and follow a realistic debt payment plan. When you file for bankruptcy under either Chapter 13 or under Chapter 7, an order for relief – an “automatic stay” – goes into effect. The automatic stay prevents creditors from harassing you about mortgage debt, credit card debt, auto loan debt, and medical bills during the period of the bankruptcy.
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Call Flor Tataje, I am waiting to help you!