Differences between Chapter 7 and Chapter 13 Bankruptcy

When someone gets to the point where he or she can no longer make payments on bills or debt, he or she can file for bankruptcy as a way to start over financially. Most individuals looking to file for bankruptcy will file for either Chapter 7 or Chapter 13 bankruptcy.

Bankruptcy can be very confusing and scary to think about but there are people who can help. If you have any questions or concerns, contact the New Orleans bankruptcy attorneys of the Law Office of David D. Kervin, Jr., LLC, at 504-599-5906 to schedule a free consultation with a qualified bankruptcy attorney. Let us help you take control of your financial future.

Chapter 7 and Chapter 13

Before filing for bankruptcy you need to know which chapter is right for you. Chapter 7 and 13 are different in many key areas. Some of them are:

• The most common type of bankruptcy is Chapter 7. In this chapter, the courts will assign someone to help you eliminate your debts by liquidating personal assets.

• Chapter 13 bankruptcy is much more exclusive than Chapter 7 bankruptcy. In this chapter, debtors reorganize their debts and create a re-payment plan so that they can pay these debts off over time.

If you have any questions, you should contact a bankruptcy attorney so he or she can inform you about the different bankruptcy options and which is best for you.

Contact Us

Let us help you in this trying time. Contact the New Orleans bankruptcy attorneys of the Law Office of David D. Kervin, Jr., LLC, at 504-599-5906 today to take control of your financial future.