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Chapter 7 vs. Chapter 13. There are a variety of reasons why consumers may end up filing for bankruptcy. Maybe it's the lack of jobs after a stagnant economy zapped the market, or a business that had promise but ultimately crumbled. Whatever the reason, knowing the differences between Chapter 7 and Chapter 13 bankruptcy can help consumers get back on their feet.
Both are forms of bankruptcy that can give consumers a level of protection against creditors, and in some cases, can even eliminate or discharge debt.
But, what should you file for? Below is a list of things to consider if you're looking to choose between the two.
Choosing between Chapter 7 and Chapter 13 bankruptcy can be difficult, especially given the gravity and importance of the decision. Consulting a bankruptcy attorney that can break down Chapter 7 vs. Chapter 13 for you may also be useful in determining the best choice for your situation.
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.
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