Chapter 13 has advantages and potential disadvantages compared to Chapter 7–it’s more flexible but there’s a chance you’ll pay more.
In a Chapter 13 “adjustment of debts” you have much more time to get current on your residential lease agreement than under Chapter 7.
Both Chapter 7 and Chapter 13 can wipe away judgment liens. But doing so under Chapter 13 can be better when used with its other benefits.
Chapter 13 can be an effective way to temporarily or permanently hold on to business and investment real estate equity and income.
Chapter 13 can be an effective way to keep or unload business and investment real estate.
Chapter 13 is often a better way to get sell real estate, especially if you have other financial complications.
Chapter 7 writes off your mortgage debt as well as many other debts. It might be a way to pay your “priority” debts as well. If you own real estate that is NOT your home, and you’re considering bankruptcy, there’s a good chance that real estate is part of what’s dragging you down financially. Maybe you made an investment that turned sour. … Read More
Whether you can keep other real estate depends first on whether it’s “exempt.”