How do I know what chapter of bankruptcy to file for? 8 Answers as of July 12, 2013

How do I know what chapter of bankruptcy to file for? What are the differences amongst chapter 7 through chapter 13 bankruptcies?

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Indianapolis Bankruptcy Law Office of Eric C. Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
It is highly advisable that you seek professional legal guidance. Filing the wrong bankruptcy or missing important information can have severe results, including the loss of property, criminal penalties and even prison.
Answer Applies to: Indiana
Replied: 4/18/2011
Mercado & Hartung, PLLC
Mercado & Hartung, PLLC | Christopher J. Mercado
There are many factors that must be considered before deciding whether to file a Ch 7 or a Ch 13. If you are in WA, i would be happy to explain the differences and go over your situation specifically. We offer free consultations.
Answer Applies to: Washington
Replied: 4/14/2011
Benson Law Firm
Benson Law Firm | David Benson
What chapter you file under depends on what your goals are in bankruptcy and whether you qualify for the chapter that would best achieve those goals. Generally speaking, a Chapter 7 bankruptcy is a liquidation of your assets and liabilities that results in a complete discharge of all unsecured nonpriority debt (e.g., credit cards, medical debt and payday loans). Most people would prefer this chapter but many do not qualify due to their level of income. Chapter 13 bankruptcy, on the other hand, is useful when a debtor wishes to hold onto assets that might otherwise be lost in a Chapter 7. For example, Chapter 13 bankruptcy may be used to deal to prevent a sheriff sale in a mortgage foreclosure action or halt the imminent repossession of a vehicle.
Answer Applies to: Ohio
Replied: 4/15/2011
Ferguson & Ferguson
Ferguson & Ferguson | Randy W. Ferguson
It all depends on what your debts are that you want to discharge and if you can afford to make payments in a chapter 13.
Answer Applies to: Alabama
Replied: 4/15/2011
Carballo Law Offices
Carballo Law Offices | Tony E. Carballo
This is exactly the reason you need to have a consultation with a bankruptcy attorney to evaluate your specific situation and determine (1) if bankruptcy should be filed; and (2) what kind of bankruptcy is best for you. Only a lawyer can answer these questions.
Answer Applies to: California
Replied: 4/15/2011
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    Books have been written on that subject. Make an appointment to see a lawyer. We don't bite (usually).
    Answer Applies to: California
    Replied: 7/12/2013
    Law Office of Eric Ridley
    Law Office of Eric Ridley | Eric Ridley
    The differences are quite substantial, and too many to list here. Generally, individuals will qualify for and file a chapter 7 or 13, depending on your goals and assets. You should call a bankruptcy attorney, who can talk you through your specific situation.
    Answer Applies to: California
    Replied: 4/15/2011
    Law Office of L. Paul Zahn
    Law Office of L. Paul Zahn | Paul Zahn
    Generally, as an individual, and not a business, your going to be filing either a chapter 7 (liquidation) or 13 (repayment plan). Speaking with a bankruptcy attorney can help you decide which is the best for you. If you are in my area, please contact me for a free consultation.
    Answer Applies to: California
    Replied: 4/14/2011
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