Filing for bankruptcy under Chapter 7

All You Need to Know About Chapter 7 Bankruptcy

Call: 888-297-6203 People with limited income who have accumulated a huge amount of credit card and personal loan debt have the option of filing for bankruptcy under Chapter 7. Dallas based bankruptcy law firm Recovery Law Group lawyers elaborate that in this liquidation bankruptcy, your non-exempt property is sold off to repay your debts. In case you wish to protect your assets, Chapter 13 bankruptcy is a better option. This type of bankruptcy is known as a reorganization plan, where, in a court-approved repayment plan is used to pay off your debts over 3-5 years’ timeframe. What effect does [...]