One of the first questions we get at our firm when a person is in debt and considering filing for bankruptcy is about the details of both Chapter 7 and Chapter 13 bankruptcy. At Ruff & Cohen, our Jacksonville bankruptcy lawyers are knowledgeable about all of the differences between these chapters of bankruptcy. With more than 60 years of combined experience, we can sit down with you to decide which chapter is right for your unique situation. You can rely on us to provide you with exceptional legal guidance and representation.
Debt Relief vs. Debt Reorganization
The most simple way to explain the differences between Chapter 7 vs. Chapter 13 is that one revolves around debt relief and the other around repayment or reorganization. With our extensive knowledge and resources in the field of bankruptcy law, we can help you get through this difficult financial time. You can trust our Jacksonville bankruptcy lawyers and team to represent your best interest and guide you in the right direction.
- The differences between Chapter 7 and Chapter 13 are as follows:
- Chapter 7: Also known as a debt relief plan, Chapter 7 focuses on your unsecured debts, such as credit card, medical, and other bills. It is much quicker than any other chapter of bankruptcy and can provide you with nearly immediate relief.
- Chapter 13: Also known as a reorganization or repayment plan, Chapter 13 focuses on your secured debt, such as mortgage, vehicles, and other large assets. Although this does not provide immediate relief, it does allow you to pay back your debt over time.
Schedule a Free Consultation!
The next step is to meet with a Jacksonville bankruptcy lawyer to discuss your needs and learn how we can help. Please give us a call today at (352) 364-8688 to make an appointment for a free consultation.