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Chapter 7 and 13 Comparison Atlanta, GA

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Chapter 13 and Chapter 7 Comparison

The Two Main Types of Bankruptcy: A Side-by-Side Comparison

At the law firm of Gingold & Gingold LLC, our experienced bankruptcy attorneys — Ira D. Gingold, who has been a bankruptcy lawyer since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has been practicing bankruptcy, real estate and business law since 2001 — are committed to sharing accurate information about the bankruptcy process.

Many of our clients want to know about the differences between Chapter 7 and Chapter 13 bankruptcy. Our Atlanta attorneys have prepared a brief overview of the major differences:

Chapter 7 Chapter 13
Wipes out debts you cannot afford to pay Wipes out some debts and helps you repay others in an affordable payment plan
Lets you keep your house and car if you are current or can get current on your payments Lets you keep your house and car even if you are not current on your payments
Gives you a discharge — a document wiping out your debts — in about three months Gives you a discharge after you complete a three- to five-year repayment plan
Quicker in getting to the outcome Quicker to put a stop to emergencies like foreclosure, garnishments and lawsuits
Wipes out lawsuit judgments and finance company liens on household goods Depending on the details of your plan, may wipe out or reduce judgments and liens
Lets you keep all of your assets covered by Georgia’s homestead exemption law Lets you keep all of your assets

The bottom line is that Chapter 7 is clearly better for some people, Chapter 13 is clearly better for others, and others could benefit from either and should weigh the costs and benefits. And if you are in serious trouble with debt, chances are that one of these options is right for you.

Georgia · Chapter 7 and 13 Attorneys

Do not believe the myths spread by creditors or misleading information from friends and relatives who do not understand how bankruptcy works. Talk to an experienced bankruptcy lawyer and learn whether Chapter 7 or Chapter 13 is the best way to deal with your specific situation.

To schedule a free consultation, contact us today at (404) 685-8800 or by e-mail. We have convenient office locations in Atlanta, Cumming, Dallas and Douglasville, with evening and weekend appointments available.

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Our Client Reviews

Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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