WHICH TYPE OF BANKRUPTCY IS BEST FOR ME?
At the Wiesneth Law Offices, we understand that financial difficulties can happen to ANYONE. We are here to offer a nonjudgmental, common sense approach to any financial situation. We are here to help put your worries at ease and start you on a path to a fresh financial start. As a Bankruptcy Attorney, we can help you choose the right path between a Chapter 7 Bankruptcy filing and a Chapter 13 Bankruptcy filing.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is sometimes called “liquidation” bankruptcy or straight bankruptcy. It discharges most of your debts, but you might have to liquidate or sell some of your property to pay your creditors, if the equity in property that you have an interest in is over the state exemption dollar amount. The Chapter 7 bankruptcy process usually takes about four (4) to six (6) months to complete. Learn more about Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is sometimes called a reorganization bankruptcy. In a Chapter 13 bankruptcy, you must use your income to pay some or all of what you owe to your creditors over a period of time from three (3) to five (5) years. Learn more about Chapter13 Bankruptcy