Helping You Understand Consumer Bankruptcy
To understand which type of bankruptcy is right for you, you should consult with an experienced bankruptcy attorney. At The Winter Law Group, we seek to help you determine the best course of action to achieve debt relief, whether through Chapter 7, Chapter 13 or other debt solutions. Our Fresno bankruptcy attorney offers knowledgeable guidance and personal representation to help you understand your rights and options.
What’s the Difference?
Chapter 7 bankruptcy is what most people think of when they think of bankruptcy. If you meet certain income requirements under the means test, you can obtain a discharge of most qualifying debts, including credit card debt, medical bills, personal loan debt and other debts.
If you do not qualify for Chapter 7, you may still have the option to file Chapter 13 bankruptcy. Chapter 13 reorganizes qualifying debts into a repayment plan, which is paid in monthly installments over three to five years. Once the plan is complete, all remaining debt provided for in the plan is discharged.
Chapter 7 bankruptcy remains on your credit history report for 10 years, while Chapter 13 remains for only seven. Additionally, you can only obtain a Chapter 7 discharge every eight years.