You know bankruptcy wipes out debts. But WHEN it does so is very different with Chapter 7 vs. Chapter 13. Either way, at the end they are gone. The main goal of most consumer bankruptcy cases is to get a fresh financial start through writing off debts. The legal bankruptcy term for write-off is “discharge.” In virtually all successful … Read More
Although a Chapter 13 case lasts so much longer than a Chapter 7 one, it often has huge advantages. But you have to complete it successfully. Once your Chapter 13 payment plan gets approved at the “confirmation hearing,” your case is on its way. Now you have to comply with that plan to get the advantages that Chapter … Read More
The trial, almost always in front of a bankruptcy judge and no jury, is the final determinator whether the challenged debt gets discharged.
If a creditor’s proof of claim is too large, you may need to object to it to avoid dismissal of your Chapter 13 case.
The discharge of debts is just one of the tools of Chapter 13 for achieving your financial goals. It works differently than in Chapter 7.