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When is Chapter 7 better than Chapter 13?

When is Chapter 7 better than Chapter 13?

Alabama Bankruptcy Lawyer

In many cases, the chapter of bankruptcy filed depends on which one a person qualifies for. There is no choice involved. For those who do qualify for both Chapter 7 and Chapter 13, I frequently recommend Chapter 7.

My name is attorney Brent W. Davis. With more than 20 years of bankruptcy experience on my side, I understand the importance of getting to know your unique situation and customizing my advice based on your needs. With that said, the strengths of Chapter 7 bankruptcy are clear in most cases.

The Strengths of Chapter 7 Bankruptcy

Chapter 7 bankruptcy cases usually take less than six months. You could be debt free in less than a year, with the exception of your mortgage, your car payment or other debts that survive bankruptcy. Chapter 13 bankruptcy requires the creation of a repayment plan that could last up to five years. Not only will you be required to repay a portion of your debts, if you do not complete the plan, you will still be left with all of your remaining debts.

While it is possible that you will have to give up property, most people who file Chapter 7 bankruptcy do not. You will certainly be able to keep most necessities, and foreclosure and repossession actions can be stopped in the process.

Honest Counsel for Honest Debt Solutions: Contact Brent W. Davis & Associates

When you meet with me, I will take the time to educate you about how the strengths of Chapter 7 bankruptcy can benefit you. If, after close examination of your case I determine that another option may make more sense, I will tell you why.

Schedule a Free Initial Consultation

My office is open weekdays from 7:30 a.m. to 6 p.m. and offers free parking. Contact me today at (205) 989-1919 for a free initial consultation with a Birmingham Chapter 7 attorney. You can also contact me by e-mail.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.