Bankrupcty chapter 11?
what is it & whats the difference in chapter 7
Answers:
Ch 7 is for ALL debts to be dismissed (unsecured) and adjectives secured debt IF payments are made - they can hold on to the property. (with a car)
Ch 13 is a consolidation payoff plan of the unsecured debt - arrears of the secured debt and the secured debt. (with a home)
Laws change not long to kind society near homes to earnings something towards unsecured debt (credit cards)
I believe chapter 11 is for reorganization and chapter 7 is for liquidation.
But near is more info on this site http://www.uscourts.gov/bankruptcycourts...
This is explained some on our website. You might want to check it out.
http://www.preforeclosureusa.com/smahon...
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Answers:
Ch 7 is for ALL debts to be dismissed (unsecured) and adjectives secured debt IF payments are made - they can hold on to the property. (with a car)
Ch 13 is a consolidation payoff plan of the unsecured debt - arrears of the secured debt and the secured debt. (with a home)
Laws change not long to kind society near homes to earnings something towards unsecured debt (credit cards)
I believe chapter 11 is for reorganization and chapter 7 is for liquidation.
But near is more info on this site http://www.uscourts.gov/bankruptcycourts...
This is explained some on our website. You might want to check it out.
http://www.preforeclosureusa.com/smahon...