At Simonetta and Associates, P.C., our primary concern is to help the people of Syracuse, NY and the surrounding area release themselves from overwhelming debt by filing for bankruptcy. It is important to us that people understand the various types of bankruptcies.
Chapter 7: Primarily a consumer or commercial bankruptcy, Chapter 7 bankruptcy allows filers to keep their home and property while wiping away their debts. Chapter 7 is designed to help people pay off as many debts as possible, with a priority toward paying off outstanding tax payments. Filing a Chapter 7 Bankruptcy automatically halts all creditor harassment, including court actions and foreclosures.
Chapter 13: Providing debt consolidation for individuals and consumers, Chapter 13 bankruptcies allow filers to catch up on past due house payments and consolidate bills. Chapter 13 bankruptcies can give a fresh start to individuals who have barely enough income to cover their debts and still pay basic expenses.