{"id":5369,"date":"2022-04-13T05:17:01","date_gmt":"2022-04-13T05:17:01","guid":{"rendered":"https:\/\/recoverylawgroup.com\/?p=5369"},"modified":"2025-08-25T11:24:09","modified_gmt":"2025-08-25T11:24:09","slug":"how-to-go-about-filing-under-chapter-7-and-chapter-13","status":"publish","type":"post","link":"https:\/\/recoverylawgroup.com\/staging_D\/how-to-go-about-filing-under-chapter-7-and-chapter-13\/","title":{"rendered":"How To Go About Filing Under Chapter 7 And Chapter 13?"},"content":{"rendered":"

Call: <\/strong>888-297-6203<\/strong><\/a><\/p>\n

If you are behind the bills and want to stop being harassed by your creditor, you can file for bankruptcy<\/a>. You might have lost your job or had a sudden medical emergency and asking for help is not a shameful thing. You might think filing for bankruptcy is the end of the world for you but it is a new beginning for you that gives you a secured financial future.<\/p>\n

Chapter 7 bankruptcy?<\/strong><\/p>\n

Chapter 7 bankruptcy<\/a> is also called straight bankruptcy. It is mostly filed by the people who do not have a fixed income or not enough to clear out all the debts. In most cases, the debtor won\u2019t even lose their assets, and all their dischargeable debts are disposed of. Some benefits of filing under chapter 7 bankruptcy are \u2013<\/p>\n

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  1. Stops from garnishment of your wages and stops collection efforts.<\/li>\n
  2. Stops repossession or foreclosure of your assets.<\/li>\n
  3. Discharges almost all of your unsecured debts.<\/li>\n
  4. Doesn\u2019t have a minimum income requirement.<\/li>\n<\/ol>\n

    Not everyone can apply under<\/p>\n

    . To determine whether or not you can, you will have to take a means test which will show whether or not your whole income is less than the median of the household income of the same size in your district.<\/p>\n

    It mostly takes about 5-6 months for the case to close and all your debts are discharged if all goes well. When you file for chapter 7 bankruptcy<\/a>, you have to meet with a trustee and answer a few questions with your attorney, and hoping all goes well, the court in most cases discharges all your debts and gives a new financial start.<\/p>\n

    For a good bankruptcy attorney contact Recovery Law Group<\/a> – (888-297-6203<\/a>). <\/strong>We can help you start your life fresh, and have all the advantages you can get when filing for bankruptcy.\u00a0\u00a0<\/strong><\/p>\n

    Chapter 13 bankruptcy?<\/strong><\/p>\n

    Chapter 13 bankruptcy<\/a> allows the debtor to curate a debt repayment plan, to repay debts within 3-5 years. In the majority of cases, the debtor only pays a small part of all his\/her debts and the rest is discharged.<\/p>\n

    In most cases, the chapter 13 bankruptcy is filed to stop foreclosure of a property or to stop the repossession of a vehicle, or when someone is behind in mortgage repayment. It helps the debtor to get some of the debts to be discharged, the automatic stay, keep all the assets intact as well as mortgage modification requests.<\/p>\n

    If you repay timely to your trustee, at the end of the plan rest of your debts are discharged. When applying for chapter 13 bankruptcy<\/a> you will have to take a means test and one of the main factors that contribute toward your decision of filing for bankruptcy will be your disposable income. To file under chapter 13 you must have a regular income and some amount of disposable income to go toward the repayment.<\/p>\n

    If you want to keep all your assets intact you should go for chapter 13<\/a> but if you don\u2019t want to repay your debts, chapter 7 bankruptcy will be better for you.<\/p>\n\n

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