M K Law Michael Koch, Esq. Lockhart, Britton & Koch
M K Law Michael Koch, Esq. Lockhart, Britton & Koch
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A Friendly Attorney Who Takes The Fear Out Of Bankruptcies And Estate Planning
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Due to precautions related to COVID-19, we have expanded our options for remote consultations. Please contact our office to discuss whether a full phone consultation or video conference is appropriate for your situation.

What Is The Difference Between Chapter 7 And Chapter 13 Bankruptcy?

Clients overwhelmed with debt have different options when filing for bankruptcy. For personal bankruptcy, Chapter 7 bankruptcy and Chapter 13 bankruptcy are the two major types of filings. Understanding how these bankruptcies differ will help you understand the most effective way to overcome your debt.

My La Mesa, California, office can review your case and determine which type of filing would be the most beneficial for you.

Chapter 7 Bankruptcy Can Be A Fresh Start

Chapter 7 bankruptcy allows a person to remove certain debts and begin again. Clients are also required to meet the criteria of a “means test,” which evaluates a debtor’s income and checks for previous bankruptcy filings.

Chapter 13 Bankruptcy Lets You Keep Your Assets

A Chapter 13 bankruptcy allows a debtor to reorganize their debt and create a repayment plan. This kind of bankruptcy is for people who do not qualify for Chapter 7. Chapter 13 filers must pay back their debt over a three- to five-year period depending on their income level. To qualify for a Chapter 13 bankruptcy, debtors must meet a few criteria, including not filing a recent previous bankruptcy and be under certain debt limits.

No matter your bankruptcy, there are a few types of debt such as student loans or child support payments, which you cannot eject except under extraordinary circumstances. At Lockhart, Britton & Koch, you receive personal attention from a knowledgeable attorney.

You Deserve A Fresh Start, Talk To A Lawyer Now

Speaking to an attorney can guide you through the debt relief process and make sure you are creating a reasonable bankruptcy agreement. For a free consultation of your case, call 619-299-2199 or send an email.

I am a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.

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