Although both Chapter 7 and Chapter 13 provide debt relief and a fresh financial start, there are key differences that can help you determine which one is better suited for you. Every situation is different and it is important to understand what each type of bankruptcy does so that you are fully informed about your options. We can help you understand the differences between filing for Chapter 7 and Chapter 13 bankruptcy.
Chapter 7 and Chapter 13: Honesty, Integrity and Committed Service
At the Law Office of Jacqueline Y. Blade, we help people with the first steps toward a new financial future. We are an experienced divorce and debt-relief law office that can help you with all your bankruptcy needs. Part of this is keeping our clients informed about their options and helping them make the best financial decision for their individual case. Our Ventura County Chapter 7 bankruptcy lawyer educates people on filing for Chapter 7 or Chapter 13 bankruptcy and charting paths out of debt, including restoring credit ratings after bankruptcy.
Contact Us in Westlake Village, California: 805-409-3790 | E-Mail Us
Differences Between Chapter 7 and Chapter 13
There are many differences between Chapter 7 and Chapter 13 bankruptcy. Chapter 7 is designed for people who have no ability to pay their debt. A Chapter 13 is for debtors who have a regular income and have the ability to pay at least some of their debt. While you have a constitutional right to file bankruptcy, you must still qualify. See the "Means Test" for Chapter 7 and the "Best Interests" test for Chapter 13.
The type of dischargeable debt under Chapter 7 and Chapter 13 can differ. As a general rule, all debts are dischargeable including credit card debt, medical bills, personal loans, old income taxes, and judgments. Debts that are NOT dischargeable include debts that were incurred as a result of willful and malicious injury to property, family support obligations, student loans, criminal fines and drunk driving judgments.
Contact Our Simi Valley Chapter 13 Bankruptcy Attorney
To learn more about how our Ventura County Chapter 7 bankruptcy attorney can assist you in resolving your specific legal concern, please call our law office in Westlake Village at 805-409-3790 or contact us online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
