Posts Tagged ‘chapter 7’

WHAT IS THE DIFFERENCE BETWEEN A CHAPTER 7 AND CHAPTER 13 BANKRUPTCY?

access_time Posted on: November 13th, 2025

Consumers facing the decision to file bankruptcy have several choices to make. Should I file? If so, which chapter should I file under? What are the implications? Can I ever dig out from the impact it will make on my credit rating? Each of these considerations are important since consequences may go along with each decision. The Bankruptcy Code is a federal law meant to give a fresh start to filers but is also meant to treat each creditor fairly. Filers have a choice between filing under chapter 7 (assets, if any, are sold and the proceeds paid to creditors);… read more »