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When Is Chapter 7 Bankruptcy Better Than Chapter 13 Bankruptcy?

There are a few key instances when Chapter 7 bankruptcy is better than Chapter 13 bankruptcy. Firstly, if the debtor does not have a regular income, then Chapter 7 may be the better option. This is because in order to qualify for Chapter 13, the debtor must have a steady source of income with which to make payments. Secondly, if the debtor has very little equity in their property, they may want to consider Chapter 7 bankruptcy. This is because with Chapter 13, the debtor would have to use any equity they have to repay creditors. Finally, if the debtor's debts are primarily unsecured (e.g. credit card debt), then Chapter 7 may be better sinceChapter 13 requires that at least some of the debt be secured (e.g. mortgage).

The Law Offices of Omar Zambrano has already helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706


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