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WHAT IS THE DIFFERENCE BETWEEN CHAPTER 7 & CHAPTER 13 (AND WHAT IS CHAPTER 11?

April 26, 2017chapter 11 Chapter 13 chapter 7

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WHAT IS THE DIFFERENCE BETWEEN CHAPTER 7 & CHAPTER 13 (AND WHAT IS CHAPTER 11?

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Chapter 7 is designed to eliminate unsecured debts and keep your assets such as your car or home. Chapter 13 allows you to repay your creditors and keep your assets such as your car or home based on your ability to repay your debts. Chapter 11 is essentially a Chapter 13 debt reorganization bankruptcy for corporations. A California bankruptcy attorney can help you choose which chapter is best for you.