When individuals face overwhelming debt, knowing where to turn can feel difficult. Wendy M. Mead, Attorney understands how stressful these situations can be, especially for people trying to protect their families, homes, and financial future. Many Worcester residents explore bankruptcy in Worcester, MA as a way to regain control, but the first major question is often the same: Should they file under Chapter 7 or Chapter 13?

What Chapter 7 Bankruptcy Means

Chapter 7 is often called “liquidation bankruptcy,” but the name can be misleading. Most people who qualify are able to keep essential property. The real goal of Chapter 7 is a fresh start. It typically eliminates unsecured debts such as credit cards, medical bills, and personal loans.

To qualify, individuals must pass a means test that compares their income to state averages. Those who qualify can usually complete the process within a few months, making it the faster of the two options. Chapter 7 may be a good fit for people who do not have significant assets to protect or whose income does not allow for a long-term payment plan.

What Chapter 13 Bankruptcy Offers

Chapter 13 works differently. Instead of clearing debts right away, it creates a structured repayment plan lasting three to five years. This option can be especially helpful for individuals who have a steady income, want to stop foreclosure, or need time to catch up on mortgage or car payments.

Chapter 13 allows people to reorganize their debts in a way that fits their budget. They can keep their property while making regular payments under court supervision. At the end of the plan, remaining eligible debts may be discharged.

Many people choose Chapter 13 because it offers flexibility and long-term protection. It can also provide a sense of stability during difficult financial times, especially when someone is trying to save their home.

How to Decide Which Chapter Is Right

Choosing between Chapter 7 and Chapter 13 depends on several factors. Income is a major one, since Chapter 7 requires meeting certain guidelines, while Chapter 13 works for those who can repay debts over time. The types of debt also matter, as some are easier to eliminate under Chapter 7, while others fit better into a Chapter 13 plan.

Property concerns can influence the decision as well, especially for individuals who want to protect important assets. Long-term goals play a role, too, whether someone needs fast relief or a structured way to catch up on missed payments.

Why Work With Wendy M. Mead, Attorney

Attorney Mead provides reliable, knowledgeable support for individuals considering bankruptcy. Her approach is straightforward and compassionate. She takes the time to explain every option, allowing clients to make informed decisions that align with their long-term needs.

Make the First Move Toward Relief

Debt does not have to control your life. Whether Chapter 7 or Chapter 13 is the better choice, the first step is simply understanding your options. Wendy M. Mead, Attorney is ready to help residents explore solutions and take control of their financial future.

If you are considering bankruptcy in Worcester, MA, now is the time to reach out and get the support you deserve. Contact Wendy M. Mead, Attorney today and start building a brighter financial future.

Contact Information:

Wendy M. Mead, Attorney

43 Harvard Street
Worcester, MA 01609
United States

Contact Wendy M. Mead, Attorney
https://www.meadlawoffice.com/