Dindinger & Kohler, PLLC
Professional and affordable legal representation, serving the entire Treasure Valley.


Firm Announcements and Law Updates

Which kind of bankruptcy?  Chapter 7 or 13?

Being in debt over your head is stressful, especially if you see no end in sight.  Depending on your situation, bankruptcy may offer you freedom and relief, but which type of bankruptcy is appropriate for you and will best preserve your assets?  There are two types of bankruptcy available to individuals.  Here a brief description of each:

The most common type of bankruptcy is a Chapter 7. It’s often called a liquidation bankruptcy because it is used to liquidate most of a person’s debts.  A Chapter 7 bankruptcy will discharge unsecured debts, and there are exemptions allowing a person to keep his home or car up to a certain value.  A Chapter 7 bankruptcy can be completed within a few weeks. 

On the other hand, a Chapter 13 bankruptcy, also called a reorganization bankruptcy, is available to individuals. The goal is to give people time to reorganize their finances and pay off their debts. People who file for this type of bankruptcy are allowed keep many of their assets. However, due to its reorganizational nature and structured repayment plan, a Chapter 13 can last for several years.

There is no way to know which type of bankruptcy protection is right for you without speaking to a bankruptcy attorney who can analyze your personal financial situation and make a recommendation which serves your best interests.

Let bankruptcy attorney Larsen T.J. Kohler, Esq. guide you through the process.  Give him a call at 208-761-2977, send an email to larsen@dklawboise.com, or send us a Facebook message at facebook.com/dklawboise.  Free initial consultations.



Edward Dindinger