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Chapter 7 and 13 Comparison Atlanta, GA

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Chapter 13 and Chapter 7 Comparison

The Two Main Types of Bankruptcy: A Side-by-Side Comparison

At the law firm of Jamie L. Gingold, PC, GingoldBankruptcyLaw.com (Formerly practicing with Gingold & Gingold LLC), our experienced bankruptcy attorneys — Ira D. Gingold, who has been a bankruptcy lawyer since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has been practicing bankruptcy, real estate and business law since 2001 — are committed to sharing accurate information about the bankruptcy process.

Many of our clients want to know about the differences between Chapter 7 and Chapter 13 bankruptcy. Our Atlanta attorneys have prepared a brief overview of the major differences:

Chapter 7 Chapter 13
Wipes out debts you cannot afford to pay Wipes out some debts and helps you repay others in an affordable payment plan
Lets you keep your house and car if you are current or can get current on your payments Lets you keep your house and car even if you are not current on your payments
Gives you a discharge — a document wiping out your debts — in about three months Gives you a discharge after you complete a three- to five-year repayment plan
Quicker in getting to the outcome Quicker to put a stop to emergencies like foreclosure, garnishments and lawsuits
Wipes out lawsuit judgments and finance company liens on household goods Depending on the details of your plan, may wipe out or reduce judgments and liens
Lets you keep all of your assets covered by Georgia’s homestead exemption law Lets you keep all of your assets

The bottom line is that Chapter 7 is clearly better for some people, Chapter 13 is clearly better for others, and others could benefit from either and should weigh the costs and benefits. And if you are in serious trouble with debt, chances are that one of these options is right for you.

Georgia · Chapter 7 and 13 Attorneys

Do not believe the myths spread by creditors or misleading information from friends and relatives who do not understand how bankruptcy works. Talk to an experienced bankruptcy lawyer and learn whether Chapter 7 or Chapter 13 is the best way to deal with your specific situation.

To schedule a free consultation, contact us today at (678) 915-2634 or by e-mail. Jamie accepting cases from Atlanta, Cumming, Dallas and Douglasville and surrounding areas.

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    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional an

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepida

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pl

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my deb

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

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