What is the difference between chapter 7, 13 and using a debt solution company to pay off unsecured?

Which would be best if you have good income but not enough to meet monthly bills, utilities, unsecured debt %26amp; your house is upside down $188,000, due to adjustable arm and drop in value? Would you recommend using a paralegal, attorney or debt solution company (unsecured).

What is the difference between chapter 7, 13 and using a debt solution company to pay off unsecured?
Hi,


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http://urlbrief.com/c5f336
Reply:well





chapter 7 is "wipe out of your debt without paying monthly" but you will be listed for 7-10 years you will not able to open loan or credit 2 or 3 years after you filed the bankruptcy.





chapter 13 is that you agreed to pay small amount in straight 60 months row depends on how much you owe.





once you file a bankruptcy, during you are being listed between you filed the time to 7 or 10 years, you will not able to file a bankruptcy between this time.





I don't recommend debt solution company because they would charge you 15% for service fee





I personally recommend you to hire an attorney. in addition, you will be required to attend to credit counseling before you file a bankruptcy.





if you own a house while you still pay the mortgage, so debt collector would put a lien on your house as if you don't pay your credit or anything because debt collector may take the assets on the house you own... debt collector will tell you to surrender your house.





debt collector only interests your house and vehicle you own if you own many vehicles but debt collector will leave you alone if you have one vehicle once you file a bankruptcy. as your personal things as the computer, tv, fridge, anything, etc are not interested for debt collector
Reply:Bankruptcy should be your last step and before filing bankruptcy you can try consolidating your debts through a debt solution company as they are the experts in the field. The debt counselor will give you various plans on paying off your debts from which you have to choose the plan which suits your situation.





As bankruptcy will remain on your credit report for mare than 10 years and if the individual is listed as having filed for bankruptcy, it results in a 160-220 point deduction on their credit score and if a delinquent account is added to the individuals credit file, 70-120 points are subtracted. During the period of bankruptcy and after bankruptcy you would face difficulty in getting loan, purchasing and leasing and building your credit.





Here is the source of a debt consolidation company named http://ezconsolidation.comf for your reference
Reply:A debt collector will not take your house. sheesh.





If you are not able to pay your debts and are considering bankruptcy, you should never do a Chapter 13. Chapter 13 will still show as bankruptcy, and you'll still have to pay your debt. Even in a Chapter 7 bankruptcy your primary vehicle, your home, and your personal belongings won't be in jeopardy of being sold off to pay off unsecured creditors.





Call a bankruptcy attorney and get a free consultation. Usually they will tell you if you're a good candidate for bankruptcy and who that will affect your assets.





Good luck!