Decide if Bankruptcy is right for you. Get a free consultation with Attorney Chue Vue to understand and determine whether you qualify for Chapter 7 or Chapter 13 bankruptcy. Let Attorney Chue Vue clear your debts.
Chapter 7
This bankruptcy option allows a debtor a complete discharge of his/her liabilities. There is no payment plan, but bankruptcy will stay on your credit report for 10 years from the filing date. For most people, this is ideal and creates a fresh start by selling assets and distributing the proceeds to its creditors
Chapter 13
A Chapter 13 bankruptcy plan may offer your business protection over Chapter 7 bankruptcy. With this plan, if the value of your assets exceeds the exemptions for these assets, then your property can be protected. This plan allows debtors with regular income to propose a way to repay various creditors through the Bankruptcy Court without the approval of the creditors.