What is the difference between a Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 bankruptcy is the liquidation of non-exempt assets to satisfy debts. Chapter 13 bankruptcy involves the repayment of a percentage of your debt over a 3 to 5 year period, after which most unsecured debt is discharged. This type of bankruptcy allows you to gain the benefits of debt relief without losing your assets. One great advantage to a Chapter 13 bankruptcy is the ability to catch up on late payments through the plan.
Holland Law Group focuses on helping clients in financial trouble. We can explain bankruptcy laws and procedures, and administer the means test to establish your bankruptcy qualifications. We are dedicated legal professionals that can help you make the right decision regarding your financial future. We offer a free consultation to discuss your financial situation and how to eliminate your debts.
When a person is plagued by financial problems, it can add considerable stress to life. Filing for bankruptcy can be an effective way to resolve an out-of-control debt situation. Our firm works closely with clients when developing a strategy to address their debt problems. We pay close attention to their needs and concerns, and provide whatever legal advice and support is necessary. We offer affordable rates and payment plans. If you have overwhelming debts, filing for bankruptcy may be the right solution to your financial difficulties.
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