What’s the Difference Between Chapter 7 & Chapter 13 Bankruptcy?
The short version is, Chapter 7 bankruptcy is known as a straight bankruptcy. It’s the most common type of bankruptcy and is generally the quickest. The theory is, when a person files for Chapter 7, their assets are either exempt (protected from the bankruptcy court and their creditors) or non-exempt (not protected and can be sold to pay creditors). In reality, this rarely happens.
Chapter 13 bankruptcy is a reorganization bankruptcy that is designed for people with a regular monthly income that can pay back a portion of their debts through a court-approved repayment plan.
How Do You Know If Bankruptcy Is the Right Move for You?
We tell people all the time that bankruptcy is the beginning of a bright financial future, but we also send many of our consultations out into the world with the knowledge that they need to handle their issues on their own. Bankruptcy is NOT the right fit for everyone, and we love meeting with people who actually don’t need to hire us. They just need a little guidance. This is exactly why we stopped calling them “free consultations” and started calling them “complimentary strategy sessions.” Yes, we make a living helping people with bankruptcy, but our economy also thrives when our community does. At The Dellutri Law Group, PA, we will only agree to file bankruptcy for people if it is in their best interest.
To learn if bankruptcy is truly the right fit for you, contact us now to schedule a complimentary strategy session. We will be happy to discuss your situation with you in person and, if bankruptcy isn’t right for you, we will tell you what your best course of action would be.
When Is It Time to Start Considering Bankruptcy?
If you are like most people, when you borrow money or put something on your credit card, you have every intention of paying it back. Sometimes, life takes an unexpected turn. Maybe you recently divorced, lost your job, or were involved in an auto accident.
If you have found yourself struggling with debt, you are probably doing everything you can to avoid asking someone else for help. You may also be trying to avoid filing for bankruptcy because you have heard how your friend’s cousin’s uncle filed for bankruptcy in 1992 and it was a disaster. We get it, bankruptcy comes with a certain stigma, but the idea that bankruptcy is all doom and gloom couldn’t be further from the truth.
Here are possible signs that you should be considering bankruptcy:
- Debt collectors call you—all the time
- You are thinking about taking money out of your retirement fund
- You are falling behind on your mortgage, vehicle, and other financial responsibilities
- You are overloaded with credit card and/or medical debt
Does this sound like you? If you’re ready to hear from us whether bankruptcy is the right move for you, call us now. What do you have to lose?
Contact us at (800) 391-4337 to set up a complimentary strategy session with our Florida bankruptcy lawyers.
Who Should I Hire?
That is a fair question. Most law firms will say something like, “Hire the experienced bankruptcy attorneys in business since 1998” (don’t pretend like you didn’t read that like an annoying TV lawyer. We read it that way and we wrote it!). It’s true, we have helped tens of thousands of people file bankruptcy since 1998, but that’s not why we think you should hire us. We like to think we aren’t your typical law firm, and certainly not your typical lawyers. We are different.
What Is the Dellutri Difference?
At The Dellutri Law Group, PA, we understand that every bankruptcy, no matter how big or how small, is one of the most difficult things to come to terms with in a person’s life. With that being said, we also believe that any bankruptcy filed in the United States should be strategically planned by the debtor and his or her counsel. Otherwise, you may be putting your assets at risk. So, the first decision that a person must make is finding the right attorney for his or her bankruptcy case.
When you choose The Dellutri Law Group, PA to guide you through the bankruptcy process, we will:
- Listen to your concerns
- Strategically plan a way forward
- Help to restore your financial reputation
When considering hiring an attorney, make sure you are asking these questions:
- Do they offer strategic bankruptcy consultation at no cost to you?
- Will they tell you if bankruptcy is not the right move for you?
- If they do, will they just send you back out in the world with no guidance?
- Do they have a good reputation in the legal world and in the community?
- Better yet, do they have a good reputation amongst their own clients?
- Do they offer free information on their website?
If you were able to answer “no” to any of these questions, that law firm is probably not the right place for you. If, however, you’re ready to talk to a law firm that can confidently answer “yes” to all those questions, contact us now!
All Attorneys Are Not the Same
Many attorneys offer a free initial consultation. But ask yourself: what really is a free consultation? What are you going to get out of the consultation? Why don’t they tell you what to expect? How do you know that you will receive maximum value? What is the real cost of a free consultation? Is the “free consultation” just a way to lure you in and give you a high-pressured sales pitch?
At The Dellutri Law Group, PA, we believe in providing time and resources to those individuals who are willing to spend some of their valuable time talking to us. If you’re willing to take the time to come and meet with us, we pledge to exceed your expectations, and we will do it all at no cost to you. We don’t even like the phrase “free consultation,” because it implies that you get the consultation and nothing else if you don’t hire that firm. We started calling ours a complimentary strategy session because if we can’t help you, we will help you strategize what your next move should be if bankruptcy is not the right fit.
Here is what you should expect, and will receive, from our complimentary strategy session:
- You will receive a form to fill out telling us about your income, your expenses, your assets, and your debts. This will help us narrow down the issues you are facing so we can spend more time focusing on your individual problems.
- You will spend 30 minutes with an attorney to discuss how your individual issues will be handled during a bankruptcy proceeding (longer strategy sessions can be arranged, but clients will be charged accordingly).
- You will discuss the difference between a Chapter 7 and Chapter 13 bankruptcy proceeding.
- If a bankruptcy is not in your future, you will be provided with an alternative game plan with other options for you to pursue.
- If a bankruptcy proceeding is recommended for your case, you will discuss a detailed plan of action, explanations of the defenses and strategies that will be implemented on your behalf, how the court will likely respond to your individual circumstances, and an expected date of completion.
- At the end of your strategic bankruptcy session, we will follow up with you, in writing, with a plan of action for your case.
- You will leave the strategic bankruptcy session with clarity, peace of mind, and a game plan going forward.
Why would we make such an offer? Because, at The Dellutri Law Group, PA, we are tired of seeing good, honest, hard-working people lose assets that they didn’t need to lose because they either had bad information or they hired the wrong attorneys. We find it shocking that murderers and rapists get free attorneys to protect their legal rights, but a hard-working American, who may have fallen on hard times has to face a lawsuit alone. We could go on and on about the horrors we have seen in the debt collection industry and the tactics used by some debt collectors to prey on their fears. We could also go on and on about our success stories, but you can read them here.
If you are facing overwhelming credit card debt, student loans, a debt collector lawsuit, a foreclosure lawsuit, garnishment, repossession, or have a culmination of all of these issues, what do you have to lose by coming and seeing us?
Contact us today to get started and see what The Dellutri Law Group, PA can do for you!