Chapter 7 Bankruptcy vs Chapter 13 Bankruptcy

Avoid Bankruptcy and Free Your Debt . Get Refinance Loans , Secured Debt Consolidation or Debt Settlement Advices.

Chapter 7 Bankruptcy vs Chapter 13 Bankruptcy

The best feature of Chapter 13 bankruptcy for many people is that they can arrange their affairs to replay their debts without giving up any property. Other than selling property voluntarily, to augment the income you denote to your Chapter 13 plan, you only risk losing property if you’ve missed payments on a secured debt, and the bankruptcy court then lets the creditors repossess or foreclosure on the “collateral” (the property securing the debt).

Chapter 7 bankruptcy is different. If you won property that is considered “no exempt”, you may lose it, unless you arrange to give its cash equivalent or other (exempt) property of the same value to the bankruptcy trustee. The cash could come from earnings or loads received after your filing date.
In addition, if you aren’t current on a secured debt or can’t afford to make payments on it in the future, you may, in a Chapter 7 case, lose the property that secures the debt.


Bankruptcy Is it the right solution to your debt problems? Attorney Robin Leonard

Chapter 7 Bankruptcy vs Chapter 13 Bankruptcy

Avoid Bankruptcy and Free Your Debt . Get Refinance Loans , Secured Debt Consolidation or Debt Settlement Advices.