Chapter 7
Stop Creditors in their Tracks! Chapter 7 bankruptcy can provide immediate relief to a wide variety of financial problems. It is generally a very effective way to quickly eliminate large amounts of unsecured debts. Once you file a Chapter 7 bankruptcy, your creditors are immediately prohibited from engaging in any collection activity against you without first obtaining court permission from your Bankruptcy Judge. Some of the more common reasons to consider filing a Chapter 7 bankruptcy are to:
- Eliminate Credit Card Debt
- Stop Creditor Harassment
- Eliminate Repossession Delinquencies
- Stop Credit Card lawsuits
- Stop Wage Garnishments
Chapter 13
Filing a Chapter 13 bankruptcy allows you to repay your creditors a reduced percentage of your debt based on what you can afford to repay. It also forces your creditors to accept the repayment according to the terms set forth by the bankruptcy court. The main eligibility requirement for Chapter 13 bankruptcy is that you have a steady source of monthly income and an ability to repay at least a portion of your debts. Chapter 13 is often referred to as the “wage-earner” Chapter of bankruptcy.
- Stop Home Foreclosure
- Stop Car Reposession
- Stop Wage Garnishment
- Get your mortgage back on track
- Pay a fraction of unsecured debt