Chapter 7 Bankruptcy vs. Chapter 13 Bankruptcy
Which Chapter of Bankruptcy is Right for You?
Each Chapter of Bankruptcy has specific clients it is best suited for. The tools of both Chapter 7 and Chapter 13 are different but both can achieve the same goal, eliminating and or restructuring your debt. Below the two Chapters are contrasted for your review.

Chapter 7 vs. Chapter 13 Bankruptcy
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy is good for average to low income earners. Usually debtors that are having issues mainly with unsecured debt like credit cards, repossessions, medical bills etc. It is not the proper chapter if you are behind on your car, house, or HOA payments and want to get caught up. Most people who file Chapter 7 are able to keep all of their assets. Your chapter 7 options will be discussed in detail during your free consultation if it is the right option for you.
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is good for average to high income earners. It is a restructuring plan that establishes a repayment plan on your debt. Most debtors pay back between 10%-100% of their debt. Some good points of this tool is that the debt is usually paid back interest free, and you only have to make one payment a month. Unlike chapter 7, chapter 13 is the perfect chapter to file if you are behind on your car, house, or HOA payments and want to get caught up. Chapter 13 provides some powerful tools to work out outstanding debt restructure agreements.
Benefits of both Chapters of Bankruptcy
- Stop Harassing Phone Calls
- Stop Lawsuits
- Stop Wage Garnishments
- Stop Repossessions
- Stop Foreclosures
Call for a FREE consultation and Attorney Kevin Cortright will meet with you one on one. He will discuss your complete financial situation and together you will develop a plan to get your debt under control.