Chapter 7 Bankruptcy 

Chapter 7 bankruptcy is liquidation. These are also "no asset" cases with minimum exemption amounts available for basic real and personal property items. The end result of a Chapter 7 filing is a discharge, guaranteeing the debtor freedom from all debts listed on the petition.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is reorganization. The petition requires the submission of a repayment plan using the difference amount between debtor's income less share of household expenses. The Chapter 13 filing is most appropriate for those with household incomes over the state's average.

A bankruptcy filing will terminate all creditors' collection actions. Most bankruptcies require only the debtor's presence at a creditors' meeting. The petitions are then reviewed and approved by the judge of the court without the need for a further hearing. The process is usually complete within months.

For more information and resources on filing Bankruptcy read Attorney Sankaran's blog.

We are a debt relief agency helping people file for bankruptcy under the Bankruptcy Code. None of the information provided here or anywhere on this website should be construed as legal advice. If you wish to receive legal advice, please call this office or an attorney of your choosing in your jurisdiction.