What are the differences between Chapter 7 and Chapter 13?
A Chapter 7 bankruptcy is typically the chapter that we recommend if you are qualified. We do that because Chapter 7 is the quickest, the cheapest and does the most for you. In a Chapter 7 bankruptcy, we normally file your bankruptcy and have your meeting of creditors within 30 days. Typically, you will receive a discharge within 75 days after that First Meeting of Creditors and you will be out of bankruptcy. In a Chapter 7, you must remain current on your payments on your vehicles and your house if you wish to retain them. A Chapter 13 bankruptcy is different in that it is designed for people who are: (1) behind on their house and their property is about to be foreclosed upon; or (2) behind on their vehicles and their cars are about to be repossessed. It is also designed for people who are behind to the IRS, or those who simply make too much money each month to remain in Chapter 7. Chapter 13 has many advantages. For instance, we are often able to substantially reduce your payments on
