April 2019 Archives

Who can benefit from a Chapter 13 bankruptcy?

Chapter 13 bankruptcy is a very popular choice for individual debtors who do not qualify for Chapter 7 bankruptcy. Chapter 7 bankruptcy tends to be a very popular option since the entire process takes around six months, and debtors benefit from debt discharges. However, debtors will only qualify for Chapter 7 bankruptcy if their income is very low in comparison to their debts. Additionally, you will almost certainly lose your home as a result of filing for Chapter 7 bankruptcy.

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