Benefits of Ch 13 Bankruptcy

The  first job I have when someone consults with me in filing bankruptcy is to quickly determine which Chapter of Bankruptcy is right for them. People want answers quickly and sometimes the situations are very easy to understand, but most of the time they are not.What clients want is help and clear guidance. Many times people think of Bankruptcy as a straight bankruptcy, often precluding the benefts for Chapter 13. That is where it is primarily important that the attorney you are speaking to is well versed in both Chapter 7 and Chapter 13 bankruptcy options.
Both chapters have their pros and cons. However, in most circumstances there are benefits to Chapter 13 over Chapter 7. Most of those benefits involve the super-discharge Chapter 13 gives debtors over Chapter 7, and other benefits involve the reduction of interest rates on motor vehicles, restructuring of mortgage arrears and the repayment of taxes (many times without interest or penalties). My job is to give a debtor the best bang for their buck. Sometimes Chapter 7 does that sometimes the option is better in Chapter 13, but what is important is that the debtor knows the benefits of both bankruptcy options and then the debtor can help make an informed decision as to which way to proceed. My officer offers free, same-day consultations. Even if you have spoken to another attorney, feel free to contact me for a second opinion. Many attorneys fail to adequately explain the pros and cons of both chapters, and I will be happy to do that if you would like a more in depth understanding on how bankruptcy works.    Anderson & Associates, PC  757-301-3636