Bankrupcy 2
7 Bankrupcy

Chapter 7 and 13 Bankruptcy

Individual debtors may file a Chapter 7 bankruptcy petition to discharge certain debts and obtain protection from their creditors. This permits the debtor to get a “fresh start.” It also offers protection of the debtor’s assets (subject to certain limitations) by providing certain personal exemptions. There are, of course, certain debts that cannot be discharged through Chapter 7.  For example, child support, student loan obligations, and most tax obligations are non-dischargeable. The U.S. bankruptcy laws, however, require specific debtors with a regular income to pay back creditors over a certain period (generally three to five years) in compliance with a court-approved repayment plan (Chapter 13). In addition, the Bankruptcy Reform Act of 2005 significantly changed certain aspects of the Bankruptcy Code by imposing more limitations on who can file Chapter 7 based on how much income a debtor earns.


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Our firm offers extensive experience representing debtors in filing a Chapter 7 or Chapter 13 bankruptcy petition. In addition, we advise our clients on the most suitable alternatives available to them. Please contact our law office today to schedule a free initial consultation.

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