Differences Between Chapter 7 and Chapter 13 Bankruptcy
Although bankruptcy filings are down compared to the high numbers seen during the Great Recession, there were still about 800,000 filings in 2016. The vast majority of those were either Chapter 7 or Chapter 13, which are the two most common forms of bankruptcy.
If you have found yourself overwhelmed with debt and see little way out, bankruptcy might be your best option. Depending on your income, asset, debts, and financial goals, either Chapter 7 or Chapter 13 is likely right for you.
The best way to proceed if you are thinking of filing for bankruptcy is to talk with an experienced bankruptcy law attorney such as Robert M. Kaplan of ...