All About Chapter 7 and Chapter 13 Bankruptcy

Written by admin on . Posted in Bankruptcy lawyers indiana, Chapter 13 bankruptcy information, Indiana bankruptcy lawyer

Should i declare bankruptcy
Chapter 7 and chapter 13 bankruptcy are the two types of personal bankruptcy people can file in the United States. Chapter 7 and chapter 13 bankruptcy differ in several ways. In chapter 7 bankruptcy, the debtor is allowed to discharge all or most of their debt. In chapter 13 bankruptcy, the debtor must repay at least some if not all their debt as worked out in a repayment plan. The United States Bankruptcy Code requires that in order for a person to file Chapter 13, the individual cannot have more than $922,975 in secured debt and $307,675 in unsecured debt. Certainly, there are drawbacks to filing chapter 7 and chapter 13 bankruptcy. For example, on average, a personal chapter 7 and chapter 13 bankru