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Bankruptcy
Alternatives to Bankruptcy
Bankruptcy Exemptions
Bankruptcy FAQ
Bankruptcy Myths
Benefits of Bankruptcy
Chapter 13
Chapter 7
Chapter 7 vs. Chapter 13
Credit Restoration
Debt Consolidation
Debt Relief
Debt Settlement
Deed in Lieu
Discharging Your Debt
Fair Debt Collection Practices Act
Filing for Bankruptcy
Foreclosure Defense
Is Bankruptcy Right for Me?
Life After Bankruptcy
Loan Modification
Massachusetts Exemptions
Means Test
Quincy Bankruptcy
Short Sale
Student Loans and Bankruptcy
The Bankruptcy Process
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Boston Bankruptcy Attorney

Chapter 7 vs. Chapter 13

If you are considering bankruptcy, there are two primary options available to you: Chapter 7 and Chapter 13. Each Chapter has its own set of advantages that serve differing financial situations.

Chapter 7 is used when:

  • You have little hope of being able to pay off your debt
  • You have a small amount of money left over after paying basic monthly expenses, or you are unable meet your basic monthly expenses

The process provides a number of benefits, including the ability to discharge most or all of your unsecured debts, the ability to complete the proceedings in as little as a few months, and an automatic stay that prevents creditors from contacting you about your debts. The process is quite complex, and has more requirements after amendments to the federal law in 2005. Attempting it on your own could lead to a denial, a delay in the process or even legal difficulties if you have provided incorrect or incomplete financial information. We offer legal services to ensure you have the best possible opportunity to discharge your consumer debt and get a fresh start.

Chapter 13 is used when:

  • You have substantial assets or property that you do not want to lose
  • You have a regular income from employment or are self employed and making steady income that allows you to pay for your monthly living expenses, but you have fallen seriously behind in your obligations.

The benefits of Chapter 13 include the ability to keep most or all of your property, the ability to catch up on your delinquent accounts according to a creditor payment schedule, and the ability to make one monthly payment towards all of your debts, as opposed to many separate payments at varying interest rates. The process of filing chapter 13 is difficult and complicated. You need to ensure that every aspect of your chapter 13 filing is correct or you could face serious problems. Our firm is here to help.

A Boston bankruptcy attorney can assist you in deciding whether you should pursue Chapter 7 or Chapter 13 as a method of debt relief.

Bankruptcy Help in Boston

If you are considering bankruptcy, call me, Roushi Sahagen, to provide you with help. I am an experienced bankruptcy attorney at Infinity Law Group who has helped a number of people successfully file Chapter 7 and Chapter 13. I can provide you with the legal counsel and experience that is necessary to get your financial situation under control through filing for bankruptcy.

If you have decided to file for bankruptcy, contact a Boston bankruptcy lawyer who will help you decide whether you should file for Chapter 7 or Chapter 13.