Understand and Explore Your Bankruptcy Options. Connect with Experienced Bankruptcy Attorneys

At U.S. Bankruptcy Help, our mission is to provide our users with the most accurate, reliable, and practical bankruptcy information available. We understand that navigating bankruptcy can be overwhelming, and we're committed to empowering you with clear guidance every step of the way. To further assist our users, we connect you with a network of carefully screened bankruptcy attorneys, doing our utmost to ensure you receive trustworthy and competent legal support tailored to your unique situation.

What is Bankruptcy?

Bankruptcy is a legal procedure that provides relief for individuals and businesses unable to pay their outstanding debts. It allows them to eliminate some or all of their debts or to restructure them, providing a path towards financial recovery. The process is governed by federal law and requires the involvement of a court, which helps ensure fair treatment for both the debtor and creditors.

Types of Bankruptcy

There are several types of bankruptcy, each designed to address different financial situations. Understanding these types can help you determine which one might be applicable to your circumstances.

Understanding Chapter 7 Bankruptcy: A Guide

Chapter 7 bankruptcy is the most common form of bankruptcy for individuals. Chapter 7 wipes the slate clean of unsecured debts for debts who qualify for chapter 7 discharge.

Understanding Chapter 13 Bankruptcy Basics

In Chapter 13, you pay a portion of your debts over 3–5 years, potentially lowering certain interest rates. It also halts creditor actions like lawsuits, wage garnishments, and even foreclosure.

Chapter 7 vs Chapter 13 Bankruptcy

In this guide, we will break down the key differences between Chapter 7 and Chapter 13 bankruptcy, so you can see which option is best for you.

What is Chapter 7 Bankruptcy? What is Chapter 13 Bankruptcy?

While there are several types of bankruptcy, Chapters 7 and 13 are the most common for consumer debt:

• Chapter 7 Bankruptcy: Chapter 7 bankruptcy wipes the slate clean of unsecured debts, like credit cards, personal loans, medical debt, and certain taxes. Chapter 7 petitioners obtain relief in a relatively short timeframe. If you're struggling with debt chapter 7 is ideal for those going thorhg a rough time and are left without the means to repay a significant portion of their debts. You qualify for Chapter 7 by either being under the median income level of your jurisdiction, or by passing a means test .
• Chapter 13 Bankruptcy: Chapter 13 bankruptcy offers the same bankruptcy discharge to individuals who pay their "disposable income" to a bankruptcy trustee for a period of at least 3 years and a maximum of 5 years. Chapter 13 can be used to catch up secured debts like mortgages and vehcile loans effectively avoiding foreclosure and repossession. In chapter 13 plans, secured creditors (like vehicle lenders) and priority creditors (like the IRS) can be made whole at significantly reduced insterest rates and even redcued principal amounts. These secured or priority creditors are usually paid before unsecured creditors like credit cards. When a chapter 13 plan ends what debt is left over is usually discharged. Chapter 13 is a very diverse chapter of bankrjptcy with lots of options. Click here to find out more about the chapter 7 and chapter 13 timelines .

Understanding the Bankruptcy Filing Process

Filing for bankruptcy can be a relief as filiers are afforded the protection of the court through the automatic stay. It can also be a daunting process, but in this world it is sometimes a necessary step for individuals facing overwhelming debt. Understanding the bankruptcy filing process and what happens when you file for bankruptcy. can help alleviate some of the stress and uncertainty. Our website was founded by a bankruptcy attorney with decades of exerpience filing thousands of bankruptcy cases.The information here is updated regularly, and carefuly curated by actual bankruptcy attorneys with years of experience, ensuring you have the most current information on changing rules, regulations, and best practices in the bankruptcy world. Here you will find a plethora of information on almost any consumer bankruptcy question you have. We are committed to giving you the best information and connectiing you with only qualified pre-screened bankruptcy laywyers in your area.

Previous

How Bankruptcy Stops Creditors

Bankruptcy can be a powerful tool to immediately halt creditor harassment, wage garnishments, and more.

Click to Read

U.S. Bankruptcy Help, United States

What is the Chapter 7 Means Test?

The Chapter 7 Means Test determines if you qualify for a Chapter 7 discharge. Click to learn more.

Click to Read

Will Bankruptcy Stop a Lawsuit?

Learn how filing for bankruptcy can halt lawsuits and other collection actions. Here’s what you need to know.

Click to Read

How Bankruptcy Stops Creditors

Bankruptcy can be a powerful tool to immediately halt creditor harassment, wage garnishments, and more.

Click to Read

U.S. Bankruptcy Help, United States

What is the Chapter 7 Means Test?

The Chapter 7 Means Test determines if you qualify for a Chapter 7 discharge. Click to learn more.

Click to Read

Will Bankruptcy Stop a Lawsuit?

Learn how filing for bankruptcy can halt lawsuits and other collection actions. Here’s what you need to know.

Click to Read

How Bankruptcy Stops Creditors

Bankruptcy can be a powerful tool to immediately halt creditor harassment, wage garnishments, and more.

Click to Read

U.S. Bankruptcy Help, United States

Next

• 1
• 2
• 3

Pre-Screened Bankruptcy Lawyers Near Me

Finding the right legal representation is often crucial to a successful bankruptcy filing. We refer only to top pre-screened bankryuptcy attorneys who have demonstrated both professional competency and high ethical standards of practice. By connecting you with these trusted experts, we ensure that you receive tailored, reliable guidance from professionals qualified to address your unique financial situation.

Bankruptcy isn’t about giving up—it’s about securing a fresh start.

— usbankruptcyhelp.com

Stay Informed with Ongoing Updates

Laws and regulations are always changing, and we believe our users deserve the most up-to-date information. Count on us to refine our content regularly, adapting to new bankruptcy rules and guidelines. By staying current with usbankruptcyhelp.com, you’ll be prepared to make the best possible decisions for your financial—and legal—well-being.

If you’re ready to take the next step or simply want to learn more about bankruptcy, explore our resources, and when you’re ready, schedule a consultation with a pre-screened bankruptcy attorney. Let us help you reclaim your future today.

Find Bankruptcy Attorneys Near You

Get detailed, state-specific bankruptcy information and connect with trusted local bankruptcy professionals.

Common Bankruptcy Questions

Explore some of the most frequently asked questions about bankruptcy, including the means test, lawsuit relief, and stopping creditor actions.