Chapter 7 bankruptcy, sometimes called a straight bankruptcy is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts usually within four months. In the vast majority of cases the debtor has no assets that s/he would lose so Chapter 7 will give that person a relatively quick "fresh start".

Chapter 13 bankruptcy is also known as a reorganization bankruptcy. Chapter13 bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years. This type of bankruptcy appeals to individuals who have non-exempt property that they want to keep. It is also only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.

Type of bills that can not be included into bankruptcy

Taxes, Student Loans, Child Support, Alimony, criminal fines, debts from prior bankruptcy.

Coastal can do the legwork for you and save you time and money. Our services are FREE and you are under no obligation to accept offers that are suggested to you. Our network of Bankruptcy attorneys consist of some of the most reputable names in the industry.  Call our Credit Advisors right now at 866-205-8370 or fill out the short form and we will get you on the path to financial freedom.  If Bankruptcy is the MOST appropriate option and you choose to do it yourself, we suggest you…

• Find a reputable attorney by checking with your State Bar Association. With the new bankruptcy laws it is crucial that your have an experienced attorney that knows the laws and gives your case his/her full attention.  Even clerical mistakes can cause your case to be rejected. 
• Don’t make cost the only factor.  Remember the old saying “you get what you pay for”?  This is one of those times when it is worth spending the extra money to get quality service.
• Make sure that you’ve researched all the other possible options.  Bankruptcy is best used in extreme circumstances when all other options are not feasible.