Once you’ve made the decision that bankruptcy is the right solution for your financial needs, you’ll need to decide which type of bankruptcy is best for you. If you’re an individual or a small business owner in the state of New York, then your best choices are Chapter 7 bankruptcy or Chapter 13 bankruptcy. While Chapter 7 bankruptcy can be thought of as “liquidation”, Chapter 13 is thought of more as “reorganization”.
The first step in declaring any bankruptcy should be to contact an experienced bankruptcy lawyer.
The Difference between Chapter 7 & Chapter 13 Bankruptcy
There are several situations in which a Chapter 13 bankruptcy is preferable to a Chapter 7. A Chapter 13 bankruptcy is the ideal choice if you are behind on mortgage or business
The first step in declaring any bankruptcy should be to contact an experienced bankruptcy lawyer.
The Difference between Chapter 7 & Chapter 13 Bankruptcy
There are several situations in which a Chapter 13 bankruptcy is preferable to a Chapter 7. A Chapter 13 bankruptcy is the ideal choice if you are behind on mortgage or business