Chapter 7 bankruptcy can be beneficial because it is effective and efficient. If your case is considered a “no asset” bankruptcy, you will not lose property or possessions to pay off your debt. You keep your belongings.
If the relief offered by Chapter 7 does not go far enough, then Chapter 13 might be the right choice to get you back on your feet. Often, Chapter 13 is right for individuals who are behind on their house or car payment, dealing with a repossession, or, are behind on recent taxes or child support arrearage.
We are a debt relief law firm. We help people file for bankruptcy relief under the Bankruptcy Code.