Bankruptcy protection can provide those who are struggling with substantial debt a way to move forward in their lives, free of worrying about harassing creditor calls and threats of repossession or foreclosure. However, there are important differences between the various types of bankruptcy that debtors may be able to pursue, of which the most common are Chapter 7 and Chapter 13.
Chapter 7 and Chapter 13 bankruptcy are both potential options for individuals struggling with substantial debt problems. However, depending on the nature of an individual’s exact situation, it may be more advantageous to choose one of these forms of bankruptcy over the other. That’s why The Coyle Law Group believes it is essential that those in Maryland who are considering bankruptcy understand the differences between Chapter 7 and Chapter 13 bankruptcy.
The following is a brief explanation of some of the most important differences between Chapter 7 and Chapter 13 bankruptcy:
If you have serious debt issues and want help taking care of them, the experienced legal team at The Coyle Law Group, can help walk you through all of your potential options and develop a plan for how to move forward. Contact us today at 410-884-3180 to speak with one of our experienced legal professionals and learn more about what we may be able to do for you.