Should I file for Chapter 7 or Chapter 13 bankruptcy?

Chapter 7 and Chapter 13 bankruptcy protection each offer significant benefits, but determining which is right for your situation depends greatly on the details of your case and financial situation. If you are in urgent financial distress and do not have the means available to commit to a repayment plan, Chapter 7 bankruptcy may be preferable. However, if you are working and expect to continue earning at a level that will allow you to make monthly payments, Chapter 13 bankruptcy is likely a better option. Moreover, Chapter 13 bankruptcy will not expose your assets to the threat of bankruptcy sale. In most Chapter 7 cases, debtors do not have to go through a bankruptcy sale, but this is not guaranteed.

For help identifying which type of bankruptcy protection is likely best-suited to help you to overcome your current debt struggles contact the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC, by calling 414-377-0518 today.

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