Chapter 7 Vs Chapter 13

Ciccarelli Law PC can usually determine rather quickly in the initial consultation whether you are eligible to file a Chapter 7 or Chapter 13 based upon what you tell us about your income and expenses and your assets and debts and what you have done recently with respect to your finances and spending habits. Sometimes there are issues that cannot be addressed in a Chapter 7, and therefore, a Chapter 13 is preferable from the beginning. For example, if you want to resolve your foreclosure or if you owe income taxes to the IRS that are not dischargeable, they can be paid off in a Chapter 13 over five (5) years and without any interest or penalties and without the IRS being able to place a lien on your assets.

Immediately upon filing your case whether 7 or 13, you will be given the protection of the automatic stay which forbids all creditors from continuing any collection efforts without permission from the Bankruptcy Court. This includes phone calls, letters any form of communication with you. The automatic stay is so powerful, it  will even stop a foreclosure sheriff sale on the very same day.

The best way to know for sure is start with a FREE Consultation