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Chapter 13 Bankruptcy
Legal Guidance from our Port St. Lucie Bankruptcy Attorneys
Are you facing an unmanageable financial burden? You are not alone. Every year, countless Americans find themselves unable to repay their debts. That’s why the Port St. Lucie bankruptcy attorneys at Crary Buchanan are committed to helping our clients – people just like you – take the first step toward financial security through bankruptcy.
Chapter 7 vs. Chapter 13: Which one is right for you?
There are two basic forms of bankruptcy: Chapter 13 and Chapter 7. Unlike Chapter 7, Chapter 13 does not discharge your unsecured debts; it allows you to construct a repayment plan so that, over the course of several years, you can repay your debts and move forward with your life. Chapter 7, on the other hand, discharges your debts and initiates repayment through asset liquidation. This means that any of your nonexempt property may be sold to repay your outstanding debts.
Generally speaking, you if you are not eligible for Chapter 7 bankruptcy, you will qualify for Chapter 13 and vice versa. There are advantages and disadvantages to each chapter, and a St. Lucie bankruptcy lawyer from our law firm can help you determine the best option for your unique financial situation.
Chapter 14 bankruptcy may be right for you if:
- Your income disqualifies you from Chapter 7
- You want to pay off your outstanding debts
- You want to avoid liquidation of your assets
Learn More During Your Initial Consultation
If you are considering bankruptcy, speak with a member of our legal team today. We have more than 85 years of legal experience in the local community. Let us put this skill to work for your case. Dealing with debt is never easy, but our legal team is here to help you find peace of mind and take the first step toward a secure financial future. Call our office today!