Which Bankruptcy Option is Best for Me?

Choosing which method of bankruptcy to file is a decision that only the debtor can make.  However with sound guidance from an experienced bankruptcy law firm like Fears | Nachawati Law Firm, you should be able to make the best decision for you. 

Chapter 7 is a liquidation, literally meaning that a debtor's assets are liquidated to pay what they can to a creditor.  A typical debtor in Texas can keep his/her house, car and possibly some other effects.  The goal is to obtain a discharge at the conclusion of the bankruptcy to keep creditors at bay.  Conversely a Chapter 13 is a repayment plan, in which a debtor that is financially able carves out a certain amount to pay creditors each month that is less than what is owed.  This amount is agreed upon by the debtor, judge and creditor and approved by the trustee.

No matter what your financial predicament there is a form of bankruptcy protection that is right for you. Our firm is here to offer the guidance you need.