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Chapter 7
Chapter 7 bankruptcy is a tool that you can use to eliminate your debt and get a fresh start. On average, a Chapter 7 bankruptcy takes about 90 days from start to finish.
Chapter 7 bankruptcy allows the filer to discharge (wipeout) most, if not all, of his/her unsecured debt. Unsecured debt is debt that is not attached to any type of property, it may include, but is not limited to, credit card debt, unsecured loans, medical bills, garnishments, and some tax debt too!
Chapter 13
Chapter 13 bankruptcy is a useful tool that is used to restructure your debt and wipe some debt out two. A Chapter 13 bankruptcy consolidates your debt into an affordable monthly payment that is paid over a course of 36 or 60 months.
Chapter 13 bankruptcy is a useful tool to get caught up in mortgage arrears, tax debt, delinquent car payments, child support arrears, and so much more! A Chapter 13 plan can even stop foreclosure and protect your family from losing their home! It also gives filers the ability to get back repossessed cars, if done in a timely fashion, and stop wage garnishments!