Frequently Asked Questions 

Q. Which is the best option, Chapter 7 or 13?

A. The answer really depends on your financial picture. An individual with serious financial difficulties would most likely find Chapter 7 "straight" bankruptcy proceeding as the preferred type. A Chapter 7 proceeding, used by approximately 70% of all consumers filing bankruptcy petitions, is faster to complete, giving the debtor a financial "fresh start" without the years of sacrifice.

On the other hand, a Chapter 13 plan offers an alternative if you have a steady income, a stable job, and want to pay off most or all of your debts.

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