What is the Difference between Chapter 7 and Chapter 13 bankruptcy? (Part 2)

What benefits are available when filing a Chapter 13 bankruptcy? Chapter 13 bankruptcy replaces your original obligation to pay debts with a repayment plan which you submit to the Bankruptcy Court for approval. One benefit is that the interest and fees on unsecured debt (credit cards and the like) stops at the moment of filing.

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What is the difference between Chapter 7 Bankruptcy and Chapter 13 Bankruptcy?

Has your debt overwhelmed you? Maybe you lost your job, or have suffered a loss of income some other way? Perhaps, your Adjustable Rate Mortgage has skyrocketed with no end in sight? Before you decide on the option that is right for you, you ought to consult with an attorney about the available options including bankruptcy.

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