[dtcandelaria]

Hi,

I would like to know what's the difference of bankruptcy and chapter 13. Is it required by law that you have to undergo Credit Counselling first for a few months/years before you could file bankruptcy ?

Thanks/Dinah Candelaria

[Fr_Chuck]

1. You have to see if credit counseling ( from court approved companies) has to be tried first, if it works, then no bankruptcy, but it is not years,
A chapter 13 and a chapter 7 are both personal bankruptcy, a chapter 13 requiers monthly payments to pay off the debts over several years.