[GRAPHIC: www.MaidaLawFirm.com, MAIDA LAW FIRM, A PROFESSIONAL CORPORATION, 1-409-291-5117, Principal Office, 4320 Calder Avenue, Beaumont, Texas 77706, 713-987-3910, Houston Office (Wedge Tower), 1415 Louisiana, Suite 1575, Houston, TX 77002]
TAGNIA F.CLARK: The main difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy is that Chapter 13 is a reorganization or a repayment of debt, whereas Chapter 7 is a liquidation, and there are typically no payments.
The most common question we hear from our clients is whether we can save their house or save their vehicles. And one of the things that Chapter 13 affords a person is allowing them the opportunity to restructure and repay their debts, particularly their vehicle debts or their back payments on their house, to allow them to not only keep their house but repay them at a more affordable manner that fits within their budget.
[GRAPHIC: www.MaidaLawFirm.com, MAIDA LAW FIRM, A PROFESSIONAL CORPORATION, 1-409-291-5117, Principal Office, 4320 Calder Avenue, Beaumont, Texas 77706, 713-987-3910, Houston Office (Wedge Tower), 1415 Louisiana, Suite 1575, Houston, TX 77002]
