608 Mabry Hood Road, Suite 202 | Knoxville, Tennessee 37932
The bankruptcy type decision
Deciding to file for a bankruptcy is a big decision. Of course, when a person makes this decision, it is not the end of the important decision-making for them. In fact, it is often just the start. Many important decisions can arise during the course of pursuing bankruptcy protection.
One of the big decisions a person faces after deciding to pursue a bankruptcy is which type of bankruptcy to file for. Bankruptcy comes in multiple different types. Three of the most common types of bankruptcy are Chapter 7, Chapter 11 and Chapter 13. For general descriptions of these three types of bankruptcy, see our article on the topic.
These three types differ in many regards including:
Thus, there are many different things for a person to take into account when deciding between these three main types of bankruptcy. This abundance of things to keep in mind is a very common thing when it comes to decisions regarding bankruptcy. Bankruptcy can be a very complex thing in which the various different decisions which come before a person have the potential to have some pretty big impacts. Thus, a person may want to have the guidance of a bankruptcy attorney when making bankruptcy-related decisions, such as decisions regarding what bankruptcy type to go with.
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608 Mabry Hood Road, Suite 202
Knoxville, Tennessee 37932
William E. Maddox, Jr. LLC, Attorney at Law is located in Knoxville, TN and serves clients in and around Knoxville, Oak Ridge, Louisville and Anderson County.
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