Chapter 7 vs. Chapter 13
Why Choose Chapter 7?
Chapter 7 bankruptcy is a great option for individuals who are having a hard time making ends meet. If you are drowning in debt and you know you won’t be able to make payments, Chapter 7 may be the right choice.
What About Chapter 13?
Chapter 13 bankruptcy could be the choice for you if you can make some payments, but they have become too overwhelming. Chapter 13 allows you to reorganize your debt into one consolidated payment plan that lasts three to five years. With Chapter 13, you can keep your assets and start your path toward financial freedom.