What is the differents between chapter 7 and 13

Chapter 7 bankruptcy is a federal court procedure in which debtors are able to eliminate most types of unsecured debt. Chapter 7 bankruptcy is often called the liquidation bankruptcy and aims to give individuals a fresh start.

Chapter 13 bankruptcy is a federal court process in which debtors are able to repay all or some of their debts through an interest-free payment plan over a 3 or 5 year period. Chapter 13 bankruptcy is often called the reorganization or repayment bankruptcy.

If you are considering filing, please obtain a good attorney. Most bankruptcy attorneys will do a free consultation. That way if you are not comfortable with one you can go to another one.

I worked for a creditor for almost 10 years and really wish people did their homework before filing.