As a consumer, you may have accrued debt in a variety of ways and the debt is quickly become overwhelming. If you find that making your monthly payments has become increasingly difficult, bankruptcy may be a choice for you. There may be either of two options for you to pursue; Chapter 7 or 13 depending on your circumstances and the amount of your income and the nature and amount of your debts.

Chapter 7 Bankruptcy

Chapter 7 is an asset liquidation of non-exempt property (property not protected by exemption laws). You have the choice between state or federal exemptions to maximize the protection of your property.

Chapter 13 Bankruptcy

Chapter 13 works towards financial restructuring and may include loan modification.

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