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Chap 13 and chap 7 bankruptcy?

Answer:
There is a big difference between these two. Chapter 7 is known as a debt liquidation bankruptcy whereas chapter 13 is debt restructuring. Chapter 7 involves getting the majority of your debts discharged (although not all are an option) and chapter 13 reorganizes your debts and the court sets up a payment plan.
First answer by Violet Petran. Last edit by Violet Petran. Contributor trust: 38 Question popularity: 1 [recommend question].

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