About Chapter 7 Bankruptcy

Under chapter 7 bankruptcy, most of your debts can be expunged. Translation: You can eliminate debts from credit cards, medical bills, payday loans, repossessions and other unsecured debts. Therefore, if you are to the point where debt is stifling you from just meeting the basic needs of life and you feel that you need a clean slate, chapter 7 bankruptcy may be the right bankruptcy choice for you.

 

2010 N. Hampton Rd. #400, Desoto, TX 75115

Office: 214 - 330-4465 | Fax: 214 - 330 - 6977 | Email: gehbkyatty at gehunt.com

About Chapter 13 Bankruptcy

Filing chapter 13 bankruptcy allows you to catch up on your current mortgage arrears as well as pay off you car(s), property taxes the Internal Revenue Service and other secured debts. By filing chapter 13 bankruptcy, you may also be able to discharge some or all of your credit card debts, medical bills, payday loans and signature loans, depending on your ability to repay your debts.

Key factors that affect which chapter of bankruptcy is best for you:

  1. Your income
  2. The amount of debt you have
  3. The types of debts you have
  4. Whether you want to keep certain assets—your house,
    car, business, etc.
  5. Your attorney’s advice

2010 N. Hampton Rd. #400, Desoto, TX 75115

Office: 214 - 330-4465 | Fax: 214 - 330 - 6977 | Email: gehbkyatty at gehunt.com