Consumer Chapter 7 Bankruptcy & Chapter 13 Bankruptcy
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Chapter 7 Bankruptcy and Chapter 13 BankruptcyLas Vegas and Reno Nevada, Portland Oregon, Salt Lake City Utah
One of the main purposes of Bankruptcy Law is to give a person who is burdened with debt a fresh start.
A Chapter 7 bankruptcy wipes out all of a person’s eligible debts. In the vast majority of cases the debtor has no assets that he or she will lose because State and Federal exemptions protect those belongings. Chapter 7 bankruptcy gives a person a relatively quick “fresh start” and a great opportunity to rebuild quickly.
A Chapter 13 Bankruptcy is a valuable tool to protect those debtors with assets that are not protected under a chapter 7. In a Chapter 13 case a debtor is able to protect virtually all of the assets that they possess including multiple homes, cars, and many other classes of possessions.
There has been much doom and gloom written about the new bankruptcy laws and how much more difficult it’s going to be to file Chapter 7 bankruptcy. It is true that there are more hoops to jump through under the new bankruptcy laws and it’s true that some people are going to have to file Chapter 13 bankruptcy instead of Chapter 7 bankruptcy. However, for the vast majority of filers, Chapter 7 is still available with very little extra effort!
We are confident that you will be elated with the services and professionalism of our Las Vegas Nevada, Salt Lake City Utah and St. George Utah Bankruptcy attorneys and staff. Call today to make an appointment for a free consultation and get started on a fresh start today!