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Chapter 13 Also called reorganization, these bankruptcy proceedings set up a repayment plan for your debts. This plan needs to get approved by the court and gives you 3–5 years to repay.
There are two main types of bankruptcy: Chapter 7 and Chapter 13. The former is the most common type, and it involves a liquidation of your assets, which go towards discharging most or all of your ...
If you filed for Chapter 7 bankruptcy, there’s a four-year waiting period after the discharge or dismissal date of the bankruptcy. For Chapter 13 bankruptcy, there is a two-year waiting period ...
Chapter 13 bankruptcy offers a way to reorganize and pay off debts over three to five years without losing essential assets like a home or car. It provides a structured repayment plan and an ...
Chapter 13 bankruptcy lets people with stable incomes keep property like a home or car while repaying some other debts over three to five years. Meanwhile, Chapter 7 bankruptcy provides a single ...
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.
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