Once you have decided that you want to file bankruptcy, the next step would be to hire one of the bankruptcy attorneys in Topeka, KS to help you with the process. The first thing that a bankruptcy attorney is going to help you with is figuring out what kind of bankruptcy you are filing. Unless you are the owner of a business and you are filing on behalf of that business, you are either going to end up filing Chapter 13 or Chapter 7. Any of the bankruptcy attorneys in Topeka, KS would be able to explain to you what each kind of bankruptcy means. They would also be able to look at your credit history, assets, and property in order to determine which one you should file.
Deciding whether you want to file Chapter 13 or Chapter 7 is about deciding whether you want to run away from your problem or fix your problem. It is about deciding whether you want to start over or whether you want to try to prepare what is broken. If you are not interested in trying to fix your problems and would like to just start over Chapter 7 Topeka, KS is the answer. If you would rather try to fix your problems with a little help then you need to file Chapter 13.
Chapter 7 is sometimes referred to as the liquidation bankruptcy. There are a lot of people who consider Chapter 7 to be the better option. This is because it just wipes your credit clean, with the exception of a handful of secured debts, and gives you the chance to start over. You have to understand that there are some catches to filing Chapter 7. First of all, the fact that you filed Chapter 7 instead of Chapter 13 is going to be on your record. Anyone who looks at your credit history is going to know you opted for a reset instead of trying to pay back the money that you owe. Chapter 13 would show up on your record as well. However, Chapter 13 means that you had the court help you reorganize your payment plans so you could pay back all of the money you owe.
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