Learning More about Chapter 13 and Chapter 7 Bankruptcy Law in New Bedford, MA

by | May 3, 2018 | Bankruptcy

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Bankruptcy law includes a number of different types of filings. However, the filings that people are most familiar with are Chapter 7 and Chapter 13. While Chapter 7 is designed to liquidate your debts, you need to see a Chapter 13 lawyer if you plan to repay part of your debt. Chapter 13 bankruptcy is therefore helpful for anyone who wants to avoid foreclosure and the repossession of a vehicle.

Contacting a Legal Professional

When you contact a nearby law firm about Chapter 13 or Chapter 7 bankruptcy, you need to choose an experienced lawyer – someone who specializes in these types of cases, such as the Law Offices of Tara M. George, PC. When you take this approach, you can proceed with your filing with more confidence.

Again, if you are behind on your house or car payments, you should bypass speaking to Chapter 7 lawyers and ask to have a Chapter 13 legal professional handle your filing. Bankruptcy law in New Bedford, MA can become very involved. That is why you must make the distinction between Chapter 7 and Chapter 13 bankruptcy.

Chapter 7 – Who Benefits from this Filing?

Chapter 7 bankruptcy law covers debtors who do not own a lot of property. For example, someone who pays rent or lives in an apartment and who has acquired a lot of credit card debt or medical bills, might consider this type of filing.

On the other hand, a person who has fallen behind on his or her house payments should talk to a Chapter 13 attorney about repaying part of the debt and catching up on payments for the house. If he or she is earning a regular income, this can be accomplished through Chapter 13. You simply need to schedule an appointment with a legal firm close to you and discuss your financial situation. Talk to a bankruptcy law professional who can help you get back on track financially. Visit website to know more about us.

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