Chapter 13 vs. Chapter 7 Bankruptcy: What’s Best for You?
When faced with overwhelming debt, deciding between Chapter 13 and Chapter 7 bankruptcy can feel like navigating a legal maze. Both options offer debt relief, but they work in very different ways. Understanding the key differences is crucial to making the right choice for your financial future. At the Law Office of Rowena N. Nelson, LLC, we’ve guided countless individuals and businesses through this process, helping them regain control of their finances with confidence. Chapter 7 Bankruptcy: The “Liquidation” Option Chapter 7 bankruptcy is often referred to as “liquidation bankruptcy” because it involves selling non-exempt assets to pay off creditors. However, many...
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