Bankruptcy – Chapter 7 & 13

Fritzshall & Pawlowski can help alleviate your financial burdens. If you are overwhelmed by credit card debt, car loans, excessive home loans, medical bills or legal judgments, Fritzshall & Pawlowski can provide guidance and assistance through a Chapter 7 or 13 bankruptcy. We will counsel you to determine the best action for your situation.

The two most common types of consumer bankruptcies are Chapter 7 and Chapter 13. Chapter 7 is where all of your debts are discharged and gone forever. Chapter 13 occurs where your income or assets do not allow a Chapter 7, but you can still reduce or eliminate debt through a repayment plan.

In order to review your options, you will need to gather several pieces of information, such as your last three years of tax returns, most recent paystub, most recent bank statements and most recent bills from your creditors. This information will be analyzed in the “means test,” which is the formula set forth in the Bankruptcy Code to determine whether you qualify for either type of Bankruptcy.