Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the main difference between Chapter 7, Chapter 13, and Chapter 11 bankruptcy?

April 26, 2017Bankruptcy chapter 11 Chapter 13 chapter 7 difference main

0

Posted

What is the main difference between Chapter 7, Chapter 13, and Chapter 11 bankruptcy?

1 Answer

0

Posted

Chapter 7 bankruptcy completely erases all of an individual’s dischargeable debt. After filing for Chapter 7 bankruptcy, you will no longer be responsible for repaying your creditors for your debt, as that debt will have been discharged by the courts.