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As part of Chapter 7 bankruptcy, your credit card debt is typically discharged immediately. On the other hand, Chapter 13 bankruptcy focuses on reorganizing your debts.
A Chapter 7 bankruptcy remains on your credit report for 10 years, while a Chapter 13 bankruptcy stays on your credit report for seven years. However, the effect of bankruptcy on your credit ...
The new legislation also requires that all individual debtors in either chapter 7 or chapter 13 complete an "instructional course concerning personal financial management." If a chapter 7 debtor does not complete the course, it constitutes grounds for denial of discharge pursuant to new . The financial management program is experimental and the ...
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 ...
Medical debt is considered as a non-priority unsecured debt in Chapter 7 bankruptcy. In other words, medical debts are paid only after assets are applied to the debt of creditors who hold priority debt, and thus medical debts are often discharged in their entirety at the conclusion of the bankruptcy process.
Credit counseling; Chapter 7 bankruptcy and Chapter 13 bankruptcy; Although each of these debt-relief options deals with credit card debt, they are also able to deal with other types of debt. including personal loans, medical debt, accounts in collections and more, epending on the program type. These programs have not been enough to help enough ...