Beaumont Bankruptcy Lawyer Attorney
Call for a free consultation today. Whether or not you retain me, I will be happy to answer any quick questions you may have right now over the phone. Evening and weekends are available. I look forward to meeting you. - James
Chapter 7 Bankruptcy vs. Chapter 13 Bankruptcy
The biggest difference between Chapters 7 & 13 bankruptcies is the repayment of your debt. Chapter 13 bankruptcy involves a court-ordered repayment plan where a portion of your debt back is repaid to your creditors. In a Chapter 7 bankruptcy, there is no repayment plan and certain debts can simply be eliminated.
Should I file bankruptcy with an attorney in the first place?
If you are not sure whether you should file for bankruptcy, look at these issues and if one ore more apply to you, you are a good candidate for bankruptcy:
1. Creditors and collection agencies call or write you or your relatives.
2. You have 2 or more bills where you are 30 days behind or more.
3. You have lawsuits filed against you by your creditors, or your creditors are threatening to sue you.
4. You are unable to pay large hospital bills.
5. Even though you are making payments, your debt stays the same.
6. You lost all or part of your income
7. You were involved in a divorce or separation and receive less money as a result
8. Wages were garnished or your bank account was frozen
9. Your lender threatens to start or has started a foreclosure action against your house
10. Your auto lender is about to repossess or has repossessed your vehicle
11. You have a substantial amount of debts such as credit cards, medical bills, repossessions or utility bills.
12. You would not be able to repay most of your debt in the next 5
years.
SAN BERNARDINO BANKRUPTCY LAWYER