What's The Difference Between Chapter 7 And Chapter 13

At Musselwhite, Meinhart & Staples, our attorneys help individuals understand their bankruptcy options to help them make an informed decision about their future. We have more than 80 years of combined legal experience guiding clients in Radcliff, Elizabethtown and throughout north central Kentucky.

Our goal is to help you find a better future. We will educate you about your options and eligibility requirements so you understand how your decision will impact your future.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most commonly used chapter for debtors. After filing for Chapter 7, most of your debts will be discharged and you will no longer be responsible for those debts. It is important to know that not every person is eligible to file for Chapter 7. There are income limitations and asset restrictions that could make filing for Chapter 7 inadvisable. Our attorneys can tell you quickly if you are eligible and how filing will affect you.

A "means test" is used to determine income eligibility as well as other considerations that may make a Chapter 7 filing inadvisable. – Our attorneys can advise you as to whether a Chapter 7 is right for your situation.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is known as a "debt consolidation" or "repayment plan." It is typically used in cases where the debtor is not eligible for Chapter 7 or when the debtors are trying to protect certain assets like their home or vehicle from foreclosure or repossession. It can also be used to repay certain debts that might not be released in a Chapter 7 such as property and income taxes.

Learn About Your Options

Our lawyers will guide you through the bankruptcy process. We will review your situation to determine which type of bankruptcy might be right for you. We strive to provide honest advice in a friendly and comfortable environment. We will guide you every step of the way so you fully understand your options and know what can be done to protect you, your income and your assets.

Questions about bankruptcy? Let us provide the answers. Our law firm is available 24/7 and we offer evening and Saturday appointments. Arrange a free consultation to start discussing your options. Call 270-872-4537 or contact us online.