What You Need To Know

Chapter 7 Bankruptcy vs Chapter 13

Bankruptcy is common for both individuals and businesses, and Chapters 7 and 13 are two of the most common types of bankruptcy. With Chapter 7 bankruptcy, you sell off your assets and start over with no debt. You can only file for Chapter 7 bankruptcy once every 8 years, and it stays on your credit score for 10 years.

In Chapter 13 bankruptcy, you have a structured payment plan for repaying debt instead of selling off assets. Only individuals are eligible for Chapter 13 bankruptcy, and you must repay all creditors. Filing for either Chapter 7 or 13 bankruptcy could be the answer to your financial problems and help regain financial responsibility.

Experienced Attorney - Bankruptcy: What You Need To Know in Memphis, TN

Address: 2400 Poplar Ave, Suite 410 | Phone: 901-323-3902 | Email: wagesbk@wagesbenham.com

We are a law firm and a debt relief agency. We proudly help people file for Bankruptcy Relief under the Bankruptcy Code, as we have been doing for over 30 years.