Law Office of David R. Clark
902 South Memorial Drive
Prattville, AL 36067
ph: 334-361-7750
fax: 334-361-7748
david
Bankruptcy Overview:
Chapter 7:
This is often referred to as a "straight bankruptcy" and is often what is thought of when people think of bankruptcy. When a Chapter 7 bankruptcy is obtained, you are given a fresh start and generally all of your debts are wiped out. The idea is your assets are liquidated in order to pay off your debts. With an experienced bankruptcy attorney, your house and other important assets can be protected.
Chapter 13:
Instead of liquidating your assets to pay off your debts, Chapter 13 provides an opportunity to reorganize your debts into one payment that is more manageable, which is paid over the course of 3 to 5 years.
Please contact me anytime! I look forward to hearing from you.
Law Office of David R. Clark
902 South Memorial Drive
Prattville, AL 36067
ph: 334-361-7750
fax: 334-361-7748
david