Which Bankruptcy Chapter Should I File For?

Don’t let bankruptcy ruin your life.

Many Americans struggle with debt in many ways. Some have student loans they cannot afford anymore, mortgages, car loans, and personal loans. Debt is serious and if you are not making your payments on time interest rates get higher which leads to debt digging you into a bigger hole.

The average American has around $38,000 in personal debt, sometimes it can be more depending on the types of loans you have. One of the biggest debts most Americans have is credit card debt. Debt is so dangerous because if you get into debt you won’t be able to pay it can lead to tough circumstances.

Stop struggling with debt and find the best way for you to be able to slow it down.


Pick The Right Decision With Our Help

Deciding to file for bankruptcy is not an easy decision which is why you need the right help for it. Lee Ringer Law Offices has been helping people with bad debt problems since 1979.

With the right help, you will be able to pick the bankruptcy chapter you need. Many worried customers have reached out to us because they can’t pay their debts anymore and we have found solutions for them.

Depending on your type of debt, you can opt for two types of bankruptcy:

Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is when the trustee takes a part of your assets to sell them and distribute the money to creditors that have filed claims. It does not mean you will lose all of your property.

Everyone has different kinds of debts they are struggling with, once you file for Chapter 7 Bankruptcy you may be allowed to discharge a variety of them.

Chapter 13 Bankruptcy 

Chapter 13 Bankruptcy allows the individual that is filling for it to develop a plan to repay all of their debts in a timely matter. Your income is an important factor because it’s what helps to determine the plan you will have to follow to pay your debts.