Atlanta Bankruptcy Firm Clark & Washington Explains How Chapter 7 and Chapter 13 Differ

    NORCROSS, GA, July 13, 2012 /24-7PressRelease/ -- Atlanta bankruptcy attorneys Clark & Washington wish to educate the public about some of the differences between filing for Chapter 7 and Chapter 13 bankruptcy.

U.S. Bankruptcy Code allows for two primary personal bankruptcy filings: Chapter 7 and Chapter 13. Each is geared towards a specific type of debtor. Chapter 7 is most commonly used when the individual holds little property outside of basic necessities (like clothing and furniture) and/or when the individual has little to no money left over after covering basic expenses every month. Chapter 13 is most frequently filed for individuals who have a property they want to keep (home, car, et cetera) and/or for individuals who have a regular income that covers living expenses but cannot cover the scheduled payments for their debts.

For eligible Atlanta bankruptcy clients, Chapter 7 filing offers certain advantages, including a quick process, having most unsecured debts discharged (eliminated), and keeping creditors from contacting you both while the automatic stay is in effect and after your debts are discharged.

Chapter 13 filing also has certain advantages for eligible filers of bankruptcy in Atlanta. These advantages include keeping most property while extending time to pay past due accounts, the possibility of co-signer protection, having 3 to 5 years to catch up on delinquent accounts through a schedule that is workable, and no direct contact with creditors during the 3 to 5 years of protection.

Though there are distinct differences between Chapter 7 and Chapter 13, it can sometimes be difficult to determine which process is right for you and your family. With over 25 years of experience, the Atlanta bankruptcy lawyers at Clark & Washington understand the nuances of US Bankruptcy Code and can help you to be certain that you are making the right decision with your personal bankruptcy filing.

To learn more information about Clark & Washington or to schedule a free consultation with an Atlanta bankruptcy attorney, visit http://www.cw13.com.

About Clark & Washington

Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the southeast. They have locations in Georgia, Florida, and Tennessee. Clark & Washington specializes in personal chapter 7 and chapter 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.

For more information visit: http://www.cw13.com.

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