A person with a financial problem should first receive legal advise as to whether bankruptcy is  their solution or is even needed at all. For some people, chapter 7 or chapter 13 offers an opportunity to resolve their financial distress. In some case, bankruptcy is not needed – such as when most of the debt is more than 5 years old.

Need Bankruptcy Chapter 7 or 13Chapter 7 or Chapter 13


Chapter 7 and Chapter 13 are each appropriate for people in different types of situations.  Chapter 7 is usually used by people with lower incomes and little property besides their homestead and the typical amount of household goods. Chapter 13 is used by people who are unable to file for chapter 7 for various reasons or who need to stop a foreclosure and apply for a modification of their mortgage. reinstate their mortgage and payoff other secured debt.  In order to determine which type of bankruptcy is appropriate for you, a variety of factors need to be reviewed.  Some of these factors include the amount of the assets and liabilities, the nature of the debt, and the person’s budget.

Petition and Schedules

If a bankruptcy case is filed, the documents for filing must be prepared properly as required by law.  The schedules are signed under the penalty of perjury and reviewed by the bankruptcy trustee and Judge.   To prepare the required schedules and other documents, a person will need to present documents to substantiate his case, including paycheck stubs, bank statements, and tax returns.

                                                            Map of the Site