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Contact Us
  • Toll Free: 800-360-9392
  • Pittsburgh: 412-391-8000
  • Erie: 814-451-1131

Schedule Your Free Consultation

Contact Us
  • Toll Free: 800-360-9392
  • Pittsburgh: 412-391-8000
  • Erie: 814-451-1131
  • Why Steidl & Steinberg
    • Our Difference
    • Our History
    • Our Commercials
    • Attorneys Against Hunger
  • Areas of Practice
    • Overview
    • Personal Bankruptcy
    • Business Bankruptcy
    • Taxes
    • Assessment Appeals
    • Student Loan Management
  • Our Attorneys
    • Meet Our Attorneys
    • Ken Steidl
    • Julie Steidl
    • Christopher Frye
    • Lauren Lamb
    • Abagale Steidl
    • Brian Dodson
    • Nathan Chase
  • Our Locations
    • Steidl & Steinberg Offices
    • Beaver
    • Belle Vernon
    • Carnegie
    • Erie
    • Greensburg
    • Hermitage
    • Meadville
    • New Kensington
    • Pittsburgh
    • Uniontown
    • Washington
  • Blog
  • Reviews
Areas of Practice

Types of Personal Bankruptcy

Chapter 7


A Chapter 7 bankruptcy, also known as a straight bankruptcy, allows you to eliminate most of your unsecured debt (credit cards, personal loans, lines of credit, delinquent utility bills etc.) without having to pay anything toward them.  A Chapter 7 can also help eliminate mortgage debt or a vehicle loan if you decide to give up the house or car.  This type of bankruptcy cannot eliminate student loans, some tax debt, criminal restitution, mortgage debt or vehicle loans (if you intend to keep your house and car).  A Chapter 7 case normally lasts four to six months from the date that the case is filed to when the case is closed.

In order to qualify for a Chapter 7 bankruptcy, you must fall within certain income limitations.  For most people, the Bankruptcy Court allows you to keep all of your property.  If there is any chance you would lose your property, we would discuss this before making the decision to file bankruptcy papers.

Chapter 13

A Chapter 13 is a repayment plan that lasts between three and five years.  This type of bankruptcy gives you the opportunity to restructure your debt and pay back what you can afford on debts like personal loans, credit cards and medical bills.

A Chapter 13 bankruptcy can also help you catch up on delinquent mortgage payments, car payments or taxes.  It can even stop a sheriff’s sale, repossession or tax sale.  A Chapter 13 allows you to keep more assets than a Chapter 7, since you will be paying something back to your creditors.

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Steidl & Steinberg PC BBB Business Review
  • Overview
  • Personal Bankruptcy
    • Types of Personal Bankruptcy
    • FAQs
      • Former Bankruptcy Client
      • Current Bankruptcy Client
      • Prospective Bankruptcy Client
    • Could This Be You?
      • The Choice: Debt Settlement vs. Bankruptcy
      • Retirees Who Paid Their Dues
      • The Divorce
      • The Small Business Break-up
      • The Typical Chapter 7
      • The Avalanche of Medical Bills
      • The Overspender
      • The Co-sign
      • The Mortgage Foreclosure
      • The Lost Job
    • Step-by-Step
    • Resources
      • Bankruptcy Resources
      • Bankruptcy Glossary
      • Helpful Financial Links
  • Business Bankruptcy
    • Types of Business Bankruptcy
  • Taxes
    • Overview
    • How We Can Help
    • FAQs
    • Could This Be You?
      • Business Withholding Tax
      • Currently Uncollectable
      • Taxes and Filing Bankruptcy
      • Offer in Compromise
  • Assessment Appeals
    • Overview
    • Assessment Appeals FAQs
  • Student Loan Management

Archives

Steidl & Steinberg PC BBB Business Review

Contact Us Toll Free: 1-800-360-9392

Southwestern PA Main Office - Pittsburgh - 412-391-8000

Northwestern PA Main Office - Erie - 814-451-1131

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