Are you ready to face your debt head-on? The Law Office of Samuel P. Reef can help you file for Chapter 13 bankruptcy in Sharon, Massachusetts or the surrounding Norfolk County, MA area. Call 781-784-7777 now to set up a bankruptcy consultation.
The main differences between Chapter 7 and Chapter 13 bankruptcy lie in what happens to your...
Property: Under Chapter 13, you will keep most or all of your property. If filing for Chapter 7, all non-exempt property will be liquidated to pay back your debts.
Debts: If you file for Chapter 13 bankruptcy, you'll create a repayment plan that allows you to pay back your secured debts. Filing for Chapter 7 bankruptcy discharges most of your debts.
Home: Both Chapter 13 and Chapter 7 allow you to keep your home, in most cases. However, in certain situations, filing for Chapter 7 could cause you to lose your home.
The type of bankruptcy you choose will affect your family's future for years to come. That's why it's important to consult with a bankruptcy lawyer in Sharon, Norfolk County, MA before you decide to file for bankruptcy.