Comparing Chapter 7 and Chapter 13 Bankruptcy
Especially in today’s troubling economic climate, many people have found themselves dealing with unmanageable levels of debt and not knowing where to turn for relief. Fortunately, bankruptcy offers many individuals the help they need to gain control of their finances and secure a fresh financial start.
There are several different types of bankruptcy that individuals can file for, and knowing which is right for you can be difficult. At Joshua Spirn & Associates, our legal team is dedicated to helping you find the best debt relief option for your unique circumstances. Contact our Boston bankruptcy lawyers today at 800-975-5346 for more information.
Chapter 7 and Chapter 13
Bankruptcy can be a confusing process to handle on your own. There are many different options available to you, so make sure to consult with a qualified bankruptcy attorney who will help you evaluate all of the options available. Two of the most common forms of bankruptcy are Chapter 7 and 13, and while they are similar, there are a few key differences you should be aware of:
- Chapter 7 provides elimination of many, if not most, debts. In rare cases, assets may be liquidated to repay creditors.
- Chapter 13 allows individuals to create a re-payment plan so that they can continue to make payments on their debts over time.
If you are considering bankruptcy, do not hesitate to discuss all available options with an experienced bankruptcy attorney today.
Contact Us
Let us help you take control of your financial future. Contact the Boston bankruptcy lawyers of Spirn & Associates at 800-975-5346 today.
