Chapter 7 or Chapter 13 Bankruptcy:
Which is Right for You?


AS EXPERIENCED AKRON BANKRUPTCY LAWYERS, WE'LL MEET WITH YOU TO DETERMINE IF YOU SHOULD FILE CHAPTER 7 OR CHAPTER 13 BANRKUPTCY. READ ABOUT THE DIFFERENCES HERE, THEN CONTACT US. WE'LL USE THE BEST OPTION FOR YOUR FINANCIAL SITUATION.

Benefits of Chapter 7 bankruptcy:

|The Chapter 7 process is quick. Most cases receive a discharge of debt in 3-6 months.

|Most “unsecured debt” can be eliminated through an official discharge.

|Most people get to keep their property.

|Creditors must stop contacting you for payment once your automatic stay is in effect.

Benefits of Chapter 13 Bankruptcy:

|Creditors must stop contacting you for payment.

|Foreclosures and evictions are stopped.

|Better interest rate on your vehicle loan.

|May wipe out 99% of your credit cards, medical bills, etc.

|Most people get to keep their property.

|Chapter 13 gives you time to pay your creditors with monthly payment plans lasting 3-5 years. After your plan, your unsecured debts are discharged.

|Most cases modify your current loans so you can afford to pay them.

Chapter 7 Bankruptcy Prerequisites:

|Must pass the Chapter 7 means test to qualify.

|Must complete a credit counseling class.

|Must meet with us so we can guide you through the process.

Chapter 13 Bankruptcy Prerequisites:

|Your “unsecured debts” and “secured debts” are within a certain range.

|Those who do not qualify for Chapter 7 bankruptcy based on their means test may qualify for Chapter 13 bankruptcy.

|You must prove that your disposable income is enough to cover living expenses and payments to creditors as outlined in a payment plan.

|You completed a credit counseling course.


If you have questions about Chapter 7 and Chapter 13 bankruptcy in Akron, Ohio and want to know which option may work for you, contact Paolucci Law and we’ll help determine the best financial decision for you.



Contact us and tell us your financial situation, bankruptcy can probably help you.

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