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What is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?

Bankruptcy Attorney Discusses the Difference between Chapter 7 and Chapter 13

Helping Georgia residents find relief from debt since 1993

When debt builds up to the point where you feel like you can’t breathe, bankruptcy may be the right choice for you. However, if you are considering declaring bankruptcy, you may be unsure of where to turn or what form of bankruptcy is right for you. At Jeff Field & Associates, our attorneys in Athens have more than 70 years of combined experience.

In addition, our firm is dedicated solely to assisting clients with bankruptcy matters throughout Georgia from Decatur to Athens, and Buford to north of Gainesville. After reviewing your situation, we can help you determine which form of bankruptcy is best suited for you.

Following are a few of the differences between Chapter 7 and Chapter 13:

  • Chapter 7 discharges all eligible debts. Chapter 7 bankruptcy is sometimes referred to as “fresh start” bankruptcy, because it allows you to eliminate the majority of your debts. Under Chapter 7 property that is not exempt (protected) can be sold to pay creditors.
  • Chapter 13 is a repayment plan. Under Chapter 13 bankruptcy in Athens, we help you establish a repayment plan that pays creditors over a period of three to five years.
  • Chapter 7 is faster. Individuals seeking to discharge a large amount of debt in a short period may want to choose Chapter 7. The typical amount of time it takes to complete the Chapter 7 process is approximately four months.
  • You lose no property under Chapter 13. An important distinction between Chapter 13 and Chapter 7 is that under Chapter 13 none of your property is ever sold for the benefit of creditors.

Helping you decide

Most people realize that the bankruptcy process can be confusing. However, what you may not know is that deciding which form of bankruptcy is right for you can be equally puzzling. At Jeff Field & Associates we are here to review your case in Dallas or throughout Georgia,and help you make an informed decision about the bankruptcy Chapter most beneficial for your situation. We then guide you through each step until your debts are discharged.

Contact an experienced team of bankruptcy lawyers today

At Jeff Field & Associates, we are proud to help Georgia residents overcome debt. To schedule an appointment, call 404-381-1278 or contact us online. Jeff Field & Associates represents clients in Rome, Atlanta, Gainesville, Newnan, Macon and Athens. Please visit our blog site to view posts by our attorneys for additional information about bankruptcy and a variety of other topics we hope you will find interesting and helpful.

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    Had a great experience with Jeff Field and Associates. Casey handled my case. They explained everything and kept me informed on things. Everyone who supported me in this time of need was very nice and pleasant. Thank you all so very much for all your...

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    The Entire team at Jeff Field and Associates were so helpful throughout the entire process. They were quick with responses and handled everything. They dont make you feel bad about your decision, and provide very helpful advice. Mr. Fields was always...

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    We started our process in October 2021, the process was fast and easy. Casey Brown was there to answer questions via email expeditiously. In 3 months our case was discharged and we are extremely thankful and excited for the future. This truly was a...

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    I enjoyed working with Jeff and his team. They were always there to help and answer any questions that I had in a timely manner. I highly recommend Jeff Fields and Associates.

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