Are You Confused by the Differences?

If you are considering filing for bankruptcy in Fort Collins and have been trying to understand whether Chapter 7 Bankruptcy or Chapter 13 bankruptcy makes more sense for your situation, it is important to understand the differences before you start on a course of action!

• Chapter 7 bankruptcy is a Fresh Start bankruptcy.  Basically, what this bankruptcy is seeking to accomplish for you is to wipe away all of your dischargeable debts so that you can build your life again.  There are always questions about “can I keep my car” or “can I keep my home” – Your bankruptcy attorney in Fort Collins will consult with you on these matters and work to put you in the best financial position possible.
• Chapter 13 bankruptcy is basically a longer term repayment plan.  This bankruptcy works well for people with a temporary set-back and who have an ability to pay their debts (maybe just barely) and just need more time and to not pay crazy interest and late fees while they re-organize their finances.

If you would like to talk about a fresh start in Fort Collins, give our experience bankruptcy attorney a call today!