Chapter 7 vs Chapter 13 Bankruptcy

Belleville 618.236.7000
Granite City 618.656.7941

Video Transcript

Most people who file bankruptcy need either a Chapter 7 or a Chapter 13.

Because of all of the details of the law, it really takes a bankruptcy attorney to determine which chapter is right for you. But, in general, Chapter 7 is designed to eliminate debt. This works well for medical bills, credit card debt, or personal loans. However, the law limits the amount of assets you can protect.

A Chapter 13 is designed to restructure your debt by changing the amounts which your creditors are to be paid. It is often used to prevent foreclosures and repossessions, and to make it affordable to catch up on missed house or car payments. You need a regular source of income to file a Chapter 13, but the payments are based on what you can afford to pay each month to your creditors. Which chapter is best for you will depend entirely on your specific circumstances.

Call TBC to set up your free, confidential and no-obligation consultation to discuss your situation and options with one of our attorneys. Then you can make an educated decision about how to move forward.

Memberships & Associations


Belleville Location

The Bankruptcy Center
5312 West Main Street
Belleville, IL 62226
Tel: 618.236.7000

Granite City Location

The Bankruptcy Center
2021 Johnson Road, Suite 1
Granite City, IL 62040
Tel: 618.656.7941


The Law Office of Ronald A. Buch is a debt relief agency, helping people file for bankruptcy relief under the Bankruptcy Code.