Crystal Lake (815) 788-9511

Which Type of Bankruptcy is Best for Me?

Which Type of Bankruptcy Is Best for Me?

There are many aspects an individual needs to understand in order to choose the right type of bankruptcy.  In order to know whether Chapter 7 or Chapter 13 is best for a particular individual, it's important to know the pro's and con's of each type.  We are available to explain the different types of bankruptcy and answer any questions you may have. Contact our offices or call 815-788-9511 for your free consultation.

Chapter 7 Bankruptcy - Pro's and Con's


  • it results in the straight discharge of unsecured debt (e.g., credit card debt, personal loans, medical debts)
  • it puts an immediate stop to creditor collection actions, such as garnishment of wages, legal suits, and debt collector calls
  • it usually only takes three-months to complete
  • the credit score usually rebounds soon after the completion of the case
  • the legal fees are much lower than for a Chapter 13 case


  • individuals do not always meet the income eligibility requirement
  • sometimes an individuals assets are not protected
  • some debts cannot be discharged
  • bankruptcies will appear on the credit report
Chapter 13 Bankruptcy - Pro's and Con's


  • it immediately stops collections, including garnishments, lawsuits, and collection calls
  • it allows for repayment of missed mortgage and car loan payments over a period of time
  • it permits the debtor to keep their assets
  • it usually enables the individual to make a monthly payment that is affordable
  • in many cases, the individual does not have to pay interest on most types of debt
  • in some cases, a portion of the debt can be discharged at the conclusion of the case


  • it takes three to five years to successfully complete the case
  • it sometimes requires repayment of all of the debt
  • it sometimes requires the individual to surrender bonuses and tax refunds
  • if payments are missed, the court may dismiss the case

Our law firm provides individuals with the information they need to make well-informed decisions about bankruptcy.  Contact our offices or call 815-788-9511 for a free case evaluation.

Contact Us

Law Office of Timothy Brown is committed assisting individuals in need of Debt Relief, Bankruptcy Litigation, Chapter 7, Chapter 13, Creditor Harassment Defense, Debt Collection Defense, and Foreclosure law issues in Illinois.

We will discuss your case with you at your convenience. Contact us today to schedule an appointment.