Bankruptcy Attorney Cincinnati Ohio | 513-682-2031 | Types of Cincinnati Bankruptcy?

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Bankruptcy Attorney Cincinnati Ohio | 513-682-2031 | Types of Cincinnati Bankruptcy?
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Types Of Cincinnati Bankruptcy

There’s essentially two types of individual bankruptcies that individuals are going to file: Chapter 7 and Chapter 13.

Bankruptcy Attorney Cincinnati Ohio | 513-682-2031 | Cincinnati Bankruptcy Lawyer

Types of Cincinnati Bankruptcy?
Cincinnati Chapter 7 is often referred to as straight bankruptcy or the liquidation bankruptcy.

It’s simply where the court will discharge your debts assuming you qualify for the chapter 7, and they will try to take certain things from you; certain assets from you whether it’s money or property, however, in most cases the debtor doesn’t loose any money or property.

That’s the quickest type of bankruptcy.

Bankruptcy Attorney Cincinnati Ohio | 513-682-2031 | Cincinnati Bankruptcy Lawyer

Types of Cincinnati Bankruptcy?
Chapter 13 is the other type of individual bankruptcy and that is simply a repayment plan that the court sets up for the debtor, and that can last 3 to 5 years.

The other type of bankruptcy people will often hear about is Chapter 11, but really that doesn’t apply too much to individuals; that’s usually for larger corporations.

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Bankruptcy Attorney Cincinnati Ohio | 513-682-2031 | Types of Cincinnati Bankruptcy?

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