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A variety of bankruptcies make people confuse. Generally two main types are popular, one is chapter 7 bankruptcy and another is chapter 13 bankruptcy. Here is graphical explanation for people to choose chapter 13 bankruptcy.
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Find out whether the bankruptcy is the last option for you ?
BANKRUPTCYNO
OUT
When to file for Bankruptcy?
When you are unable to pay your debts,
you can file bankruptcy
Before you file for Bankruptcy you need to
understand which option suits you best ?
Two major types of bankruptcy
Chapter 13 bankruptcy -
wipe out some debt and remaining
debt you can pay back over several
years.
Chapter 7 bankruptcy -
immediately wipes out all your debt.
Who can file Chapter 13 Bankruptcy ?
People with regular income
People willing to pay off Debt
People who need time to pay off Debt
Things to Consider
Unexpired Leases
Assets and Liabilities
Executory Contracts
Current income and Expenditures
Held a Meeting with Creditors
Your Repayment
Pay a court filing fees &other administrative fees
Confirmation Hearing
Begin making your payments
You can start within 30 days of filing plan
Need Further
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