Bankruptcy
Tuesday, January 4th, 2011
Chapter 7 – A Chapter 7 is the easiest way for a debtor to get a fresh start. Chapter 7 debtors are usually not facing foreclosure or are willing to surrender their property. They may have high credit debt or medical bills.
Chapter 13 – Is usually for debtors that want to protect their assets. Usually the debtors are trying to prevent a foreclosure and/or just need time to restructure their financial life following a loss of job or other reduction in income. A Chapter 13 is usually 3 – 5 years.
Posted in Chapter 13, Chapter 7, Uncategorized | Comments Off

