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How does a chapter 13 differ from a chapter 7?

April 26, 2017Chapter 13 chapter 7 differ

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How does a chapter 13 differ from a chapter 7?

2 Answers

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The basic difference is that in a Chapter 7 case the debtor’s nonexempt property is liquidated to pay as much as possible of the debts, while in a Chapter 13 a portion of the debtor’s future income is used top pay as much of the debt as is feasible.

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Posted

The basic difference is that in a Chapter 7 case the debtor’s nonexempt property is liquidated to pay as much as possible of the debts, while in a Chapter 13 a portion of the debtor’s future income is used to pay as much of the debt as is feasible.