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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt.

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How Much Debt Is Needed to File for Bankruptcy?

Sawin & Shea

While the process can seem daunting, partnering with the right legal team can make all the difference in navigating the complexities of the law and securing the fresh start you deserve. When You Have Too Much Debt to Handle Sometimes debt can pile up to the point where making even minimum payments feels impossible with your current income.