Are you ready to get out of debt? If you have debt collectors at your door and creditors who won’t stop calling, it’s time to get out of this battle. The time is now to contact a bankruptcy attorney who can help you get out of debt with bankruptcy.
When it comes to bankruptcy, you may wonder if Chapter 7 or Chapter 13 is better for your financial situation. There are benefits to each, however, it’s important to understand how they work for your financial situation.
If you have unsecured debts like credit card bills and medical expenses, Chapter 7 bankruptcy is a great option for you. In many cases, it will create an automatic freeze on collections including foreclosure, repossession, wage garnishment, and more. Within five months of filing, nearly all unsecured debt is eliminated.
But let’s say you don’t want to go through Chapter 7 and want to pay off some of your debts. Or, you make too much money so you do not qualify for Chapter 7 bankruptcy.
>In a Chapter 13 bankruptcy plan, you have three to five years to repay your debts without the pressure of creditors taking action against you. In addition, some of your remaining unsecured debts may be eliminated when you successfully complete the plan.
