Get Help With Your Bankruptcy Case

If you are struggling to pay your bills, you may be thinking about filing bankruptcy. There are many different types of bankruptcy but not all of them are for personal use. Some can only be used by businesses. If you are thinking about filing bankruptcy, call the Koehler Law Office to learn about the different types of personal bankruptcy.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is many cases requires the debtor to turn over all of their possessions or assets to a trustee who can sell or liquidate them and pay back debtors. Many consumers do not have to turn over their assets because they are not valuable enough or are not legally required to, so although chapter 7 bankruptcy is often avoided because people are afraid of losing their assets, it can be helpful in some situations.

Chapter 13 Bankruptcy

Chapter 13 is often the preferred type of bankruptcy for those who qualify for it because it involves repaying loans over a reasonable period of time and does not require the debtor to liquidate assets. If you can afford to pay back the lenders and creditors, chapter 13 may be the right option for you.

Get Help With Your Personal Bankruptcy Case

Bankruptcy can be overwhelming and it’s a good idea to hire an attorney. An attorney can help you choose which type of bankruptcy is for you and help you get through it. The Koehler Law Office can help you. Call (812) 785-8191 today.