Overall, Chapter 7 deals with simple debts as well or better than Chapter 13 does, which deals with more difficult debts better. Debts in Bankruptcy When deciding between Chapter 7 “straight bankruptcy” and Chapter 13 “adjustment of debts” you look at many factors. You have to meet certain qualifications (usually easy to meet) to file either one. The amount … Read More
If protecting your co-debtor from having to pay your debt is a high priority, Chapter 13 has a remarkable tool for doing that.
The main goal of bankruptcy is often to write off–“discharge”–your debts. Here’s how it works in Chapter 7 “straight bankruptcy.”
Often creditors’ proofs of claim do not affect the amount you have to pay in a Chapter 13 case. But sometimes they make a huge difference.
The ability to convert to a Chapter 13 case can be extremely important if something unexpected happens soon after filing a Chapter 7 case.
Bankruptcy pays a lot of attention to and can help you deal with your secured debts in many favorable ways.
Sometimes you donât need the extra help of the Chapter 13 âco-debtorâ stay to protect your co-signer from your debt problems.
Skip the “means test” if your debts are not primarily consumer debts.