Which is better, chapter 7 or chapter 13? 26 Answers as of June 29, 2013

Which is better, chapter 7 or chapter 13?

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Evan Guthrie Law Firm
Evan Guthrie Law Firm | Evan Guthrie
This depends on your individual situation.
Answer Applies to: South Carolina
Replied: 6/14/2013
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
It depends.... you may not be able to file ch7 as there are income restrictions. If need to get rid of a second mortgage, you can only do that in a ch13.
Answer Applies to: California
Replied: 6/19/2012
Debt Relief Law Center | Roger J. Bus
Depends. Chapter 7 is better for quickly discharging as much debt as possible; a Chapter 13 repayment Plan allows you to pay back your creditors, including taxes, mortgage and car debt, over time at in more affordable payments.
Answer Applies to: Michigan
Replied: 6/18/2012
Debt Relief Legal Clinic | Daniel J. Wiedecker
These to 'chapters' of title 11 of the United States Code are two different tools to achieve a similar purpose; obtain a discharge from personal liability on 'dischargeable' debt. Individuals and companies may file a Chapter 7 - which generally speaking is a declaration of insolvency that one can no longer meet, at all, their present obligations. Chapter 13 may only be filed by individuals, or businesses operated as individual(s), and is designed to be a 'personal reorganization' to pay back certain classifications of debt, and possibly a percentage of general unsecured creditors. One is not 'better' than the other; they serve different purposes, and the circumstances of a case (individual/business, employed/ unemployed, assets/no assets, income taxes, family support, avoidable liens) help choose the tool necessary for the petitioner to achieve their purpose. It is important the petitioner seek competent counsel in the petitioner jurisdiction to determine qualifications and rights under Title 11 of the United States Code.
Answer Applies to: California
Replied: 6/18/2012
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
One chapter is different from the other and without facts about your case it is impossible to tell you which is better for you. A chapter 7 is a liquidation bankruptcy and what most people want to do to get rid of all their debts. A chapter 13 allows you to pay back certain debts such as mortgage arrears and this chapter can be used to save a home from foreclosure.
Answer Applies to: California
Replied: 6/18/2012
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    It depends on your income, your assets and what your goal for bankruptcy is,, such as keeping your house or removing a second mortgage. You should speak to an attorney to decide what is best for you.
    Answer Applies to: New York
    Replied: 6/18/2012
    The Smalley Law Firm, LLC | Cary Smalley
    That depends on your specific financial situation.
    Answer Applies to: Kansas
    Replied: 6/29/2013
    Olson Law Firm | Edward M Olson
    Each one has benefits. So, the one that fits your needs is better. Talk to an attorney to nail down your needs and priorities.
    Answer Applies to: Michigan
    Replied: 6/18/2012
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    It depends on your situation. For most people, Chapter 7 is the best option because it is quicker and discharges most, if not all, debt. But, for some people, even those who qualify for Chapter 7, Chapter 13 can be the best option. It all depends on your unique circumstances!
    Answer Applies to: Indiana
    Replied: 6/18/2012
    Norman Linder Hull, P.A. | Norman L. Hull
    Whether a Chapter 7 or 13 is more advantageous depends upon the circumstances of an individual. Consult a bankruptcy attorney. Avoid advice from your friends who have filed or from a petition preparer.
    Answer Applies to: Florida
    Replied: 6/18/2012
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    Whichever you qualify for and meets your goals.
    Answer Applies to: Michigan
    Replied: 5/30/2013
    Attorney At Law | Harry D. Roth
    It totally depends on your particular circumstances. If you are trying to save your home, save a car, pay your taxes or catch up on your child support and need the protection of the court so bad things don't happen while you do that, probably a chapter 13 is best. If you need to get rid of credit card debt, medical bills and other unsecured debt and do not need the other things, chapter 7 is probably better for you.? But there are other criteria as well, including your income, how much you owe and what kind of debts.? See a bankruptcy lawyer to help you decide which chapter will work better for you.
    Answer Applies to: California
    Replied: 6/18/2012
    Rosenberg & Press
    Rosenberg & Press | Max L. Rosenberg
    Depending on your needs at the time and your financial circumstances either chapter may suit you better. Seven discharges all of your unsecured debt. 13 gives you a payment plan in which to protect your house and other property that may be foreclosed on. Good luck.
    Answer Applies to: Connecticut
    Replied: 6/18/2012
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    This will depend on your goals. Each chapter has different advantages and disadvantages. Unless an attorney can discuss this with you I would not be able to answer this. Chapter 7 requires an individual to pass a means test to qualify so if your make to much money you may be unable to file a chapter 7 and may be forced to file a chapter 13. There may be situations where a person who can file a chapter 7 may wish to file a chapter 13 because it gives a different type of relief such as stripping second loan liens from your home, revaluing your car, etc.
    Answer Applies to: California
    Replied: 6/18/2012
    The Needleman Law Office | Scott Needleman
    The answer is really which one is better for you. My name is Scott Needleman, owner of The Needleman Law Office. The initial consultation is free. When we meet I can teach you the difference between a Chapter 7 and a Chapter 13. Together, we will create a plan of action that would be most helpful to your economic situation. You can call my office at 614-575-1188 to schedule your consultation. I have been in Bankruptcy practice for over 21 years at the same location and have filed thousands of cases. You can also meet me by visiting my website at SRneedleman.com. Learning your rights will help you sleep just a little better at night.
    Answer Applies to: Ohio
    Replied: 6/18/2012
    Law Office of Michael Johnson
    Law Office of Michael Johnson | Michael Johnson
    Depends on your facts. You should consult with an attorney.
    Answer Applies to: Florida
    Replied: 6/18/2012
    Ferguson & Ferguson
    Ferguson & Ferguson | Jackie Ferguson Graham
    It depends on your situation. A chapter 7 is more of a fresh start, but sometimes a debtor does not qualify for a chapter 7. In addition some debts are difficult to take care of in a 7, a 13 might be required.
    Answer Applies to: Alabama
    Replied: 6/18/2012
    Steven Alpers | Steven Alpers
    Depends on your finances.
    Answer Applies to: California
    Replied: 6/18/2012
    Marc S. Stern
    Marc S. Stern | Marc S. Stern
    That's like asking which is better, apples or oranges. For the right purpose either one is better. It depends upon what you owe, who you owe, what you are trying to accomplish and what results you want. For each person there is a better one. Figuring out which is better is the role of a competent bankruptcy attorney.
    Answer Applies to: Washington
    Replied: 6/18/2012
    Barbara Fontaine, Esquire | Barbara Fontaine
    Chapter 7 gets rid of almost all your debts except things like child support. Usually you end up in Chapter 13 because?your assets or income are too great, so you will have to make payments to keep them.Try for chapter 7.
    Answer Applies to: Rhode Island
    Replied: 6/17/2012
    Law Offices of Diann C. Moseley | Diann Moseley
    The answer depends on your reasons for filing. Your reasons for filing dictate which chapter to file. One is not better than the other. The two chapters are different and are designed to serve different purposes. If you have a lot?of credit card and other unsecured debts, generally speaking a chapter 7 is best because your unsecured debts will be discharged without you having to make monthly payments to the court. However, if you are facing a foreclosure or repossession of a vehicle, chapter 13 is better because the chapter allows you up to five years to pay off the delinquent amount by making monthly payments to the court.
    Answer Applies to: District of Columbia
    Replied: 6/17/2012
    Law Office of D.L. Drain, P.A.
    Law Office of D.L. Drain, P.A. | Diane L. Drain
    It really depends on what you own, owe and where you live. Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
    Answer Applies to: Arizona
    Replied: 6/17/2012
    Dan Wilson Bankruptcy
    Dan Wilson Bankruptcy | Dan Wilson
    It depends on your situation. Need a lot more detail to answer your question.
    Answer Applies to: Colorado
    Replied: 6/15/2012
    R. Jason de Groot, P.A
    R. Jason de Groot, P.A | R. Jason de Groot
    Chapter 7 is better for most people because in it they can get out of all of their debt. In Chapter 13 you have to come up with a plan to pay a percentage of what you owe to all of your creditors. You have to qualify for filing a chapter 7. That is done through what we call a "means test." Do an internet search for means test calculator and fill it out to see if you can qualify. Basically, you must make below the median income for the state for your family size. If you are single, with no dependents, the amount in Florida is just above $40,000. It also depends upon a number of factors, which only an attorney can legally give you advice about.
    Answer Applies to: Florida
    Replied: 6/15/2012
    Ursula G. Barrios Law
    Ursula G. Barrios Law | Guillermo Machado
    Most file 7, but it depends on your situation. To cure arrears on house and strip mortgages, go 13. To discharge debts quickly, go 7.
    Answer Applies to: California
    Replied: 6/15/2012
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