Federal Bankruptcy law benefits both debtors and creditors by seeing that debtors get debt relief and creditors collect some of the debts owed. The types of bankruptcy filings are referred to by the chapter of the federal Bankruptcy Code that describes them.
Generally, consumers use Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Although each situation is different, a person with few or no valuable assets would prefer chapter 7 because it involves a liquidation of most or all assets. Chapter 13 bankruptcy is a reorganization of debts where the debtor and creditors must accept new terms for debt repayment.
We can help stop creditor harassment immediately. You will be able to worry about your job and family again. We can stop most foreclosures, repossessions, lawsuits, and garnishments.
Learn About Bankruptcy
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
- Bankruptcy Myths
- Bankruptcy Qualifications
- Credit After Bankruptcy
- How Much Does it Cost to File Bankruptcy?
- Stop Creditor Phone Calls
- Foreclosure and Reposessions
- Wrongful Foreclosure
- Should I File for Bankruptcy?
Ted Machi is Board Certified* in Consumer Bankruptcy law by the Texas Board of Legal Specialization. For over thirty-five years, he has helped the little guy in the DFW metroplex through effective, determined, professional representation.