Chapter 7 vs. Chapter 13 Bankruptcy
When it comes to financial distress, many individuals consider filing for bankruptcy. Depending on your circumstances and financial goals, two main types of bankruptcy are available; Chapter 7 and Chapter 13.
Chapter 7 bankruptcy is a liquidation process that can help you clear most or all of your debt in as little as three months. In this type of bankruptcy, the court assigns a trustee who will take possession of any non-exempt assets you own and sell them to pay off creditors. After the debts have been paid off, the remaining balances may be discharged by the court entirely.
On the other hand, Chapter 13 bankruptcy is designed to provide individuals with an opportunity to reorganize their finances in order to repay debt over a 3-5 year period.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you can 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