A Chapter 7 is a wipe out. Chapter 7 will just wipe out all debt that isn’t productive. There’s some debts you can reaffirm on. House, car, furniture bills, things like that. Things that are unsecured that have nothing to hold them, we tell you to just get rid of those because they become burdensome at some point. There’s a lot of check loans out there, and those are the worst thing out there right now, are check loans. They’re just killing people. People living beyond their means because they have money available on these stupid check loans and so we try to get rid of those.
The other thing that we can do in a Chapter 13 that we can’t do in a Chapter 7 is try and save your house, if you’re behind on the payments and same thing on the car. We’re successful about 98-99% of the time on saving someone’s house or their car or both. So we have a good chance of getting it done. The problem usually on a Chapter 7 is that, by the time they come to me they’re so far behind that we can’ t do anything, that they have no income so there’s no way to make a plan, so the Chapter 7 is the wipe out. It’s like when your kid gets a bad score on a video game you know they reach up and they hit the reset button. Chapter 7 is a reset button.
I hope this has been informational for you. I hope it’s helped you out. If you need information today call us today or hit our website, send me an email. We do respond very quickly. If this is an emergency please call our office. We’ll fit you in; we’ll find time for you.
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