For Protecting Your Home, Chapter 7 or Chapter 13 May Be Best
Depending upon the jurisdiction in Florida or elsewhere, it may be better for a client to declare either a Chapter 7 or Chapter 13 for a client to protect his home. For those behind on their payments, a Chapter 13 bankruptcy is often touted as the best solution. But this is not necessarily the case. Sometimes it is better to fight and renegotiate your mortgage and then declare a Chapter 7, even though there is an element of risk doing this. Much of this kind of decision rests upon the amount of income you are generating. Factors to consider include things as minor as Trustee collection fees. For these and other complicated reasons it is always good to consult with a bankruptcy lawyer and not engage in this process without professional help.
