Waco Bankruptcy Attorney
Gary Cunha, P.C.
Attorney and Counselor at Law
Debtor Services
Chapter 7
Also known as straight bankruptcy or liquidation. If you qualify, you wipe out your unsecured
debts and choose which secured debts to pay. Certain debts (taxes, child support, student loans) are given priority status and
are generally not discharged. If you own any non-exempt property, you must surrender it to the trustee who sells it for the
benefit of your creditors.
Chapter 13
Also known as debt consolidation or repayment plan. If you qualify, you set up a Plan
to repay the portion of debt you can afford over a 3 to 5 year period. If you own non-exempt property, you must pay your unsecured
creditors at least the value of that property during your Plan.
Non-bankruptcy Options
If you have a moral or legal prohibition
from filing bankruptcy, you may look at one of these options.
Copyright (C) 2007 by Gary William Cunha, all rights reserved.
By Act of Congress and Signature of the President, We are a Debt Relief Agency. We help people file for bankruptcy.
