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Chapter 7 vs. Chapter 13 

Bankruptcy questions road-sign
Chapter 7 and Chapter 13 are very different options and each have their own pros and cons depending on your goals. Chapter 7 generally does not involve monthly payments and concludes in 4-6 months. Chapter 13 is a repayment program that usually requires monthly payments to the bankruptcy trustee over 3-5 years. At Witt Law Firm, P. A. we offer a free consultation to discuss if one approach works best for you. Despite what you may have heard from others bankruptcy is not a one size fits all solution to all your financial struggles. What may have been great for one person may spell disaster for you and vice versa. Below are some general guiding reasons to consider filing Chapter 7 vs. Chapter 13. A brief overview of the other chapters are contained in a bankruptcy disclaimer as mandated in the Federal Code.

Why file Chapter 13?

  • To save a house in foreclosure.
  • You make too much money and fail the means test.
  • You have too much equity in a house or car.
  • To strip a 2nd mortgage.

Why file Chapter 7?

  • To discharge credit cards and most other debts.
  • To avoid bankruptcy payments for 3-5 years.
  • To be out of bankruptcy in 6 months or less.
  • To “start over” and rebuild credit.

**11 U.S.C. 528(a)(4) NOTICE. We are a debt relief agency. We help people file for bankruptcy relief under the federal Bankruptcy Code.** 
Monroe Office:
​110 E Jefferson St.
Monroe, NC 28112

(704) 493-6851​

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Contact us
  • Home
  • Firm Info
    • Contact Us >
      • Directions to Monroe office
    • Attorney Profiles >
      • Jason D. Witt
    • Fee Schedule
  • Family Law
    • Child Custody
    • Child Support
    • Divorce
    • Property Division
    • Alimony and Post-Separation Support
    • Separation Agreements
    • Domestic Violence Protective Order
  • Criminal Law
    • Traffic/DWI >
      • Traffic Tickets
      • Suspended or Revoked License
      • Driving While Impaired
    • Misdemeanors
    • Felonies
    • Expungements
  • Other Areas
    • Bankruptcy Law >
      • Personal Bankruptcy
      • Chapter 7 vs. 13
      • Bankruptcy Myths
      • NC Bankruptcy Exemptions
      • Bankruptcy Means Test
      • Bankruptcy Disclaimer
    • Debt Settlement
    • Foreclosure Defense
  • Blog