Chapter 7
This is a way to release you from the responsibility for repaying unsecured debt. There are different types of bankruptcy. Which is best for you depends on your situation. Typically, Chapter 7 is best for resolving the following situations.
-
Credit Card Debt
-
Personal Loans
-
Medical Bills
-
Most Lawsuits
Chapter 13
There are several types of bankruptcy. Which is best for you depends on your situation. Chapter 13, the debt repayment plan, is best for resolving the following situations.
-
Back Taxes
-
Back Child/Spousal Support
-
Past Due Mortgage Payments
-
Past Due Car Payments