Difference with Chapter 13 2018-03-26T17:37:53+00:00

Chapter 7

A person more typically consider filing under Chapter 7 as opposed to Chapter 13 when

  • all or most of their property is “exempt”
  • their income is less than median income
  • no need to save home from foreclosure
  • no need to avoid “underwater” second mortgage

Chapter 13

Chapter 13 may be more appropriate than Chapter 7 if

  • have substantial non-exempt property
  • a person does not pass the “means test”
  • needs to save their home from foreclosure
  • need to avoid an “underwater” second mortgage
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