Chapter 7 vs. Chapter 13 Bankruptcy
When it comes to filing for bankruptcy, there are two main types that individuals can choose from: Chapter 7 and Chapter 13. So, which one is right for you? Here’s a look at the key differences between these two types of bankruptcy to help you make the best decision for your unique situation.
Chapter 7 bankruptcy is often referred to as “liquidation bankruptcy” because it involves the sale of some of your assets in order to pay off creditors. This type of bankruptcy can be completed in as little as three to six months and may be the best option if you have a large amount of debt and few assets.
Chapter 13 bankruptcy, on the other hand, is often referred to as “reorganization bankruptcy” because it allows you to reorganize your debt and create a repayment plan.
The Law Offices of Omar Zambrano has helped more then one 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