Consumer Bankruptcy
Understand the options before deciding whether to file.
Chapter 7 and Chapter 13 work differently. The appropriate approach depends on income, property, secured debt, prior filings and the types of obligations involved.
Chapter 7
A liquidation chapter in which a trustee reviews the bankruptcy estate. Exemptions, eligibility and the nature of the debts matter.
Chapter 7 Guide →Chapter 13
A repayment chapter for individuals with regular income. Plans generally run three to five years.
Chapter 13 Guide →