Anthony Albertazzi of Albertazzi Law Firm in Bend, Oregon discusses the various options and how to choose which bankruptcy chapter works for your situation.
Attorneys hear questions all the time about chapters and bankruptcy, like “What is Chapter 7?” and “What does Chapter 11 mean?”, and they can help someone choose the option that best fits their situation. Chapter 7 bankruptcy tends to be a quicker overall process to eliminate your debts and give you a fresh start, while Chapter 13 bankruptcy tends to allow time for you to make payments on a bankruptcy plan.
Chapter 13 bankruptcies may allow you keep some larger assets, such as your home, while you make these payments. If back taxes are an issue, Chapter 13 may be a way to avoid many unnecessary fees and interest charges.
If you have a complex situation and are asking yourself which chapter of bankruptcy is the best option, one of the best things you can do is to call an attorney. At Albertazzi Law Firm, bankruptcy consultations are free – give us a call today at 541-317-0231 to set up an appointment!