www.Castlelaw-KC.com Will your debts be discharged, and will you be able to start fresh? Or, will you repay your debts on an affordable payment plan? This video by a Kansas City bankruptcy attorney explains the differences between Chapter 7 and Chapter 13 bankruptcies.
A Chapter 7 bankruptcy is designed for people who want to eliminate their unsecured debts, for example credit card debts, medical bills, and unsecured loans. Through a Chapter 7, people will receive a fresh start, and will be able to keep their assets they are current on such as their homes and vehicles. A Chapter 13 bankruptcy is designed for those who are behind on their mortgage and car payments, but they still want to keep these assets. In these cases, people will be set up on a repayment plan with the bankruptcy court to pay their debts over time. The payment plan will differ from case to case as depending on debt load, income, and how much property is owned.
For more information about Chapter 7 and Chapter 13, please call an experienced Kansas City bankruptcy attorney. The skilled attorneys at Castle Law Office of Kansas City will provide you with a free consultation to discuss your case. Give us a call today at 877-520-6623. http://bankruptcy.castlelaw-kc.com/