Board Certified Bankruptcy Attorney in Arlington, Texas* - Ted Machi.

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Chapter 7 and Chapter 13 Bankruptcy

The purpose of a chapter 7 bankruptcy is to discharge or wipe out your debts. In exchange, you must give up certain property which is not exempt under the law. Many times all of your property will be exempt. In the case of some secured debt, you may be able to either reaffirm the debt and continue making payments or surrender the property back to the creditor. The purpose of a chapter 13 bankruptcy is to essentially reorganize your payments to pay off some of your past-due and current debts over a period of three to five years. Under the chapter 13 you

A Fresh Start After Bankruptcy

The bankruptcy laws are designed to allow a fresh start. Most people protect their important assets through bankruptcy. The fact is that most people don't lose anything in their bankruptcy.

*Ted Machi, Board Certified Consumer Bankruptcy Law, Texas Board of Legal Specialization. All Other Attorneys Not Certified By The Texas Board of Legal Specialization. Ted Maci, a bankruptcy lawyer in Arlington, Texas is the Debt Dr..