When determining which type of personal bankruptcy is best, Chapter 7 or Chapter 13, it is important to know the facts.

Chapter 7 bankruptcy can free debt right away that has piled up on credit cards. This type of bankruptcy can also free debt associated with personal, unprotected loans. Chapter 7 bankruptcy does not remove all debt that the person may have and cannot be used to guard important assets.

Chapter 13 bankruptcy is another type of personal bankruptcy that can be filed. This bankruptcy does not remove personal debt from credit cards or loans. Chapter 13 will allow the person who files to protect their personal assets. You have to have an income in order to file for this protection.

If you need help determining which type of personal bankruptcy is best for your situation, please contact the Boston bankruptcy lawyers of Joshua Spirn & Associates by calling 800-975-5346 today.