Chapter 7 bankruptcy, also known as "liquidation" bankruptcy, is a type of bankruptcy that allows individuals to discharge certain types of unsecured debts, such as credit card debt, medical bills, and personal loans. It also eliminates most types of collection actions, wage garnishments, and legal judgments.

Chapter 13 bankruptcy is a type of bankruptcy that allows individuals with a regular income to create a repayment plan to repay all or a portion of their debts over a period of three to five years. The plan is based on the individual's income, expenses, and assets and must be approved by the court. Under Chapter 13 bankruptcy, individuals are allowed to keep their property and assets, as long as they make their regular plan payments. This type of bankruptcy is often used by individuals who have a regular income but have fallen behind on their mortgage or car payments and want to catch up on those payments while also paying off other debts. It's also called a wage earner's plan.

Should you file bankruptcy? ​ Filing for bankruptcy is a serious decision that can have long-term financial and legal consequences. It is not a decision that should be made lightly. Before considering bankruptcy, it is important to explore all other options for debt relief, such as negotiating with creditors, consolidating debt, or seeking credit counseling. If none of these options are viable, then we will move forward with filing your bankruptcy petition.