Bankruptcy

For those clients whose financial circumstances provide for no other alternative, Debt Pro Law Center does provide Bankruptcy representation. Under existing bankruptcy laws, the courts recognize that unforeseen circumstances or hardships often befall people, like you, everyday. As a result, the courts have provided a way for honest but unfortunate individuals to reorder their affairs and enjoy a fresh start.

From the initial petition filing to appearing on your behalf in Court, Debt Pro Law Center will guide you step by step through the bankruptcy process. We understand the internal difficulties associated with making such a decision and are here to ensure that you are ultimately satisfied your decision was the right one.

What is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?

Chapter 7 Bankruptcy Discharges Debt

Most bankruptcy cases are filed under Chapter 7. Under Chapter 7, the courts can discharge nearly all of your existing debt. Simply stated, the court legally releases you from all obligations on debt including in the bankruptcy proceedings.

Chapter 13 Bankruptcy Is Debt Reorganization and Repayment

If ineligible for a Chapter 7 filing (eligibility is determined on a case-by-case basis), the most common alternative is a Chapter 13 filing. A Chapter 13 filing allows for the development of a court-supervised repayment plan to be administered by a third-party trustee. In accordance with your payment plan, you make payments which are subsequently dispersed by the third-party trustee to your existing creditors. Based on the debtor’s level of income, the repayment plan could extend anywhere from three to five years.

Our free bankruptcy consultation will help you get a better idea on which road is best for you. Just call our office at 877-902-DPLC or email us using our contact form. We look forward to assisting you.