Bankruptcy law is divided into two basic areas—business bankruptcy and consumer bankruptcy. Though a bankruptcy stays on your record for years, the time to comprehensive the bankruptcy process below Chapter 7, from filing to relief from debt, takes only about three-6 months. Eventually, Chapter 7 leaves you with nothing at all much more than a roof more than your head and transportation, a bankruptcy on your credit file, and continued concerns with secured creditors as they pursue foreclosure and repossessions that the bankruptcy did not cover. For those with a steady income that exceeds Chapter 7s limitations , but who face unmanageable debts, Chapter 13 could be the greatest (if not only) option. An attorney can divulge a clients confidences when performing so would avert a criminal act that would otherwise result in substantial harm or death, to defend himself in a malpractice or criminal lawsuit, to collect charges owed from a client and when he is compelled to do so by the court. In order for you to qualify for a discharge of you unsecured debt in the Chapter 13 bankruptcy case, you have to wait at least 4 years from the date your Chapter 7 bankruptcy case was filed. Even so, as a advantage of this kind of bankruptcy proceeding, any unsecured debts (debts that are not assured by collateral) will be wiped out. Repaying secured debts - Chapter 13 bankruptcy may allow you to repay secured debts, even if you are behind on payments, with out obtaining the property that secures the debt be repossessed. Amongst the various varieties of bankruptcy for people, this is the most typical one. Chapter 13 bankruptcies also provides reorganization possibilities and those that qualify for Chapter 13 bankruptcy filing are almost certainly be capable to keep their home, but need to submit and stick to a time-sensitive repayment program bankruptcy lawyers (usually, 3 to 5 years). Filing for bankruptcy, as stated by bankruptcy lawyers, should be an organizations last resort.