{"id":18872,"date":"2024-07-16T11:15:14","date_gmt":"2024-07-16T11:15:14","guid":{"rendered":"https:\/\/fleysherlaw.com\/?p=18872"},"modified":"2024-11-13T14:24:01","modified_gmt":"2024-11-13T14:24:01","slug":"whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy","status":"publish","type":"post","link":"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/","title":{"rendered":"What's the Difference Between Chapter 7 vs Chapter 13 Bankruptcy?"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"400\" src=\"https:\/\/fleysherlaw.com\/wp-content\/uploads\/2024\/07\/Whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy.jpg\" alt=\"What's the difference between chapter 7 vs chapter 13 bankruptcy\" class=\"wp-image-18873\" style=\"width:387px\" srcset=\"https:\/\/fleysherlaw.com\/wp-content\/uploads\/2024\/07\/Whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy.jpg 600w, https:\/\/fleysherlaw.com\/wp-content\/uploads\/2024\/07\/Whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy-300x200.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure><\/div>\n\n\n<p>Chapter 7 bankruptcy, or liquidation bankruptcy, involves selling non-exempt assets or property that can be used to pay off debt or repay creditors. In contrast, Chapter 13 bankruptcy involves making a court-approved repayment plan.<\/p>\n\n\n\n<p>Understanding the differences between Chapter 7 and Chapter 13 bankruptcy is essential for anyone facing overwhelming debt. If you are undergoing the bankruptcy filing process, <a href=\"https:\/\/fleysherlaw.com\/\">Fleysher Law<\/a> is here to simplify it and make it easier and more efficient.<\/p>\n\n\n\n<p>Our firm's bankruptcy lawyer will provide expert guidance on choosing the best option for your financial situation.<\/p>\n\n\n\n<p>Learn more about the two types of bankruptcy below. Then, contact our bankruptcy attorney to schedule a FREE case consultation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Chapter_7_Bankruptcy\"><\/span>What is Chapter 7 Bankruptcy?<span class=\"ez-toc-section-end\"><\/span><\/h2><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_72 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#What_is_Chapter_7_Bankruptcy\" title=\"What is Chapter 7 Bankruptcy?\">What is Chapter 7 Bankruptcy?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Asset_Liquidation_and_Dischargeable_Debts_in_Chapter_7_Bankruptcy\" title=\"Asset Liquidation and Dischargeable Debts in Chapter 7 Bankruptcy\">Asset Liquidation and Dischargeable Debts in Chapter 7 Bankruptcy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Chapter_7_Eligibility\" title=\"Chapter 7 Eligibility\">Chapter 7 Eligibility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#The_Process_of_Filing_for_Chapter_7\" title=\"The Process of Filing for Chapter 7\">The Process of Filing for Chapter 7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Overview_of_Chapter_13_Bankruptcy\" title=\"Overview of Chapter 13 Bankruptcy\">Overview of Chapter 13 Bankruptcy<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Repayment_Plan_in_Chapter_13_Bankruptcy\" title=\"Repayment Plan in Chapter 13 Bankruptcy\">Repayment Plan in Chapter 13 Bankruptcy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Steps_to_File_for_Chapter_13\" title=\"Steps to File for Chapter 13\">Steps to File for Chapter 13<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Comparing_Chapter_7_and_Chapter_13\" title=\"Comparing Chapter 7 and Chapter 13\">Comparing Chapter 7 and Chapter 13<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Advantages_and_Disadvantages_of_Chapter_7\" title=\"Advantages and Disadvantages of Chapter 7\">Advantages and Disadvantages of Chapter 7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Advantages_and_Disadvantages_of_Chapter_13\" title=\"Advantages and Disadvantages of Chapter 13\">Advantages and Disadvantages of Chapter 13<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Which_Option_Is_Right_for_You\" title=\"Which Option Is Right for You?\">Which Option Is Right for You?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/#Contact_Fleysher_Law_To_Schedule_a_Free_Case_Consultation_With_Our_Bankruptcy_Attorney\" title=\"Contact Fleysher Law To Schedule a Free Case Consultation With Our Bankruptcy Attorney\">Contact Fleysher Law To Schedule a Free Case Consultation With Our Bankruptcy Attorney<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<p>Chapter 7 bankruptcy is part of the U.S. Bankruptcy Code Title 11. It is designed for businesses and individuals who owe money and need help repaying their secured and unsecured debts. It allows the liquidation of nonexempt assets to pay unsecured creditors.<\/p>\n\n\n\n<p>In <a href=\"https:\/\/fleysherlaw.com\/florida-chapter-7-bankruptcy-attorney\/\">Chapter 7<\/a>, secured creditors choose a bankruptcy trustee to oversee the sale of nonexempt assets. The proceeds are used to pay back creditors based on the priorities established by bankruptcy law. While Chapter 7 offers a relatively quick resolution to debt problems, not all debts can be discharged.<\/p>\n\n\n\n<p>A bankruptcy attorney will work with you to evaluate your eligibility through the means test and understand the potential impacts on your financial future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Asset_Liquidation_and_Dischargeable_Debts_in_Chapter_7_Bankruptcy\"><\/span>Asset Liquidation and Dischargeable Debts in Chapter 7 Bankruptcy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One key feature of Chapter 7 bankruptcy is asset liquidation. A bankruptcy trustee sells off all nonexempt property and assets to repay creditors. Exempt property varies by state, is protected, and can't be removed.<\/p>\n\n\n\n<p>Liquidating assets means converting non-liquid assets into cash by selling them. A business needing money can do this to meet obligations or reallocate funds.<\/p>\n\n\n\n<p>When a court or the law requires it, it may also be a forced liquidation in other circumstances. A court officer who has a writ of execution from the court manages this. The officer may garnish assets, sell non-liquid assets at a public auction, and give the proceeds to the creditor, with any remaining funds returned to the individual.<\/p>\n\n\n\n<p>Dischargeable debts are released upon approval of a bankruptcy petition, meaning they do not have to be repaid. Many unsecured debts, such as credit card debt, medical bills, and personal loans, can be discharged in Chapter 7 bankruptcy.<\/p>\n\n\n\n<p>However, some debts, such as alimony, student loans, and child support, are generally not dischargeable, and most debts must be repaid.<\/p>\n\n\n\n<p>A discharge provides a reset opportunity, relieving creditors, debtors, and you of the obligation to repay certain debts. Fleysher Law can help you identify exempt assets and determine which debts can be discharged. Our team will guide you through the entire process.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Chapter_7_Eligibility\"><\/span>Chapter 7 Eligibility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>To be eligible for Chapter 7 bankruptcy, you must pass a <a href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/understanding-the-bankruptcy-means-test-and-your-eligibility\/\">means test calculation<\/a> comparing your regular monthly income to the average income in your state.<\/p>\n\n\n\n<p>You are likely eligible if your current monthly income is below the median. If it is above, additional calculations are required to determine eligibility based on disposable income.<\/p>\n\n\n\n<p>An experienced bankruptcy lawyer will help you complete the means test and assess your eligibility for Chapter 7 bankruptcy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Process_of_Filing_for_Chapter_7\"><\/span>The Process of Filing for Chapter 7<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"400\" src=\"https:\/\/fleysherlaw.com\/wp-content\/uploads\/2024\/07\/The-process-of-filing-for-chapter-7.jpg\" alt=\"The process of filing for chapter 7\" class=\"wp-image-18874\" style=\"width:387px\" srcset=\"https:\/\/fleysherlaw.com\/wp-content\/uploads\/2024\/07\/The-process-of-filing-for-chapter-7.jpg 600w, https:\/\/fleysherlaw.com\/wp-content\/uploads\/2024\/07\/The-process-of-filing-for-chapter-7-300x200.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure><\/div>\n\n\n<p>Filing for Chapter 7 involves several steps. Your bankruptcy case is handled by a trustee appointed to liquidate non-exempt assets. We will guide you through each step to ensure accuracy and compliance:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Credit counseling: <\/strong>Before filing, you must complete a credit counseling session from an approved agency. This session will help you understand your financial affairs and explore alternatives to bankruptcy.<\/li>\n\n\n\n<li><strong>Filing the bankruptcy petition: <\/strong>You must speak with a bankruptcy court to file a bankruptcy petition. Filing the petition includes detailed information about your secured debts, unsecured debts, assets, income, and expenses.<\/li>\n\n\n\n<li><strong>Automatic stay: <\/strong>An automatic stay is initiated upon filing, stopping most debt collectors from collecting money. The automatic stay provides relief from being harassed by creditors.<\/li>\n\n\n\n<li><strong>Meeting of creditors:<\/strong> You must attend a meeting where the bankruptcy trustee and creditors can question your financial condition. Fleysher Law will prepare you for this meeting.<\/li>\n\n\n\n<li><strong>Asset liquidation:<\/strong> The bankruptcy trustee will determine which of your assets are nonexempt and arrange for their sale. The proceeds are used to repay creditors.<\/li>\n\n\n\n<li><strong>Education:<\/strong> After filing, you must complete an education course. The course will help you manage your finances and avoid future bankruptcy or foreclosure.<\/li>\n\n\n\n<li><strong>Discharge:<\/strong> Once all requirements are met, the bankruptcy court will grant a discharge of your dischargeable debts. This process legally frees you from the obligation to repay those debts.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Overview_of_Chapter_13_Bankruptcy\"><\/span>Overview of Chapter 13 Bankruptcy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/what-is-chapter-13-bankruptcy-2\/\">Chapter 13 bankruptcy<\/a> is also known as <em>reorganization bankruptcy<\/em>. Chapter 13 bankruptcy lets individuals with a regular income develop a repayment plan to repay all or part of their debts over three to five years.<\/p>\n\n\n\n<p>Unlike Chapter 7, Chapter 13 doesn't require asset liquidation. In severe financial distress, individuals or businesses may need to undergo bankruptcy liquidation reorganization to manage their debts and restructure their financial obligations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Repayment_Plan_in_Chapter_13_Bankruptcy\"><\/span>Repayment Plan in Chapter 13 Bankruptcy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In Chapter 13 bankruptcy, you can propose a repayment plan to make installments to pay creditors over three to five years. This plan lets you keep your secured property while catching up on overdue mortgage and car payments.<\/p>\n\n\n\n<p>The court must approve and strictly abide by your repayment plan. The repayment plan in Chapter 13 must prove you can make regular payments towards your debts. Priority debts, such as taxes and child support, must be paid in full, while other debts may be paid partially or in full, depending on your disposable income.<\/p>\n\n\n\n<p>Completing the repayment plan can discharge the remaining debt. We will assist you in drafting a realistic and court-approved debt repayment plan that fits your budget.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Steps_to_File_for_Chapter_13\"><\/span>Steps to File for Chapter 13<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Filing for Chapter 13 bankruptcy involves a structured process to help you reorganize your debts and create a manageable repayment plan. Here are the key steps to follow:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Credit counseling:<\/strong> Like Chapter 7, you must complete a credit counseling session before filing. This helps assess your financial situation and explore bankruptcy alternatives.<\/li>\n\n\n\n<li><strong>Prepare and file the bankruptcy petition:<\/strong> Detailed financial information must be collected and submitted with your bankruptcy petition, which includes your proposed repayment plan.<\/li>\n\n\n\n<li><strong>Automatic stay:<\/strong> Filing initiates an automatic stay, halting most collection activities against you. The automatic stay provides temporary relief from creditors.<\/li>\n\n\n\n<li><strong>Meeting of creditors: <\/strong>You attend a meeting where creditors can ask questions about your financial situation and repayment plan. We will help you prepare for this meeting.<\/li>\n\n\n\n<li><strong>Confirmation hearing:<\/strong> The bankruptcy court holds a hearing to confirm your repayment plan. Creditors and the bankruptcy trustee can object, but Fleysher Law will advocate on your behalf.<\/li>\n\n\n\n<li><strong>Make payments: <\/strong>Once your repayment plan is approved, you will start making monthly payments according to the plan's terms. These payments are made to the bankruptcy trustee, who distributes them to creditors.<\/li>\n\n\n\n<li><strong>Education: <\/strong>After filing, you must complete an education course. This course will provide financial management tools to help you succeed after bankruptcy.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Comparing_Chapter_7_and_Chapter_13\"><\/span>Comparing Chapter 7 and Chapter 13<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Chapter 7 and Chapter 13 bankruptcy target different financial needs and situations. Each type has its advantages and disadvantages based on your financial situation. Below are some of the differences that will help you determine which option is best suited for your needs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_and_Disadvantages_of_Chapter_7\"><\/span>Advantages and Disadvantages of Chapter 7<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One of the main advantages is the quick process; Chapter 7 can be completed in a few months, providing immediate relief from debt collectors and allowing you to move forward with your financial life more quickly.<\/p>\n\n\n\n<p>Additionally, most unsecured debt is discharged, significantly less court fees, reducing your financial burden and giving you a fresh start. As reported by the <a href=\"https:\/\/www.flmb.uscourts.gov\/filingfees\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">U.S. Bankruptcy Court in Florida<\/a>, the filing fee for a Chapter 7 bankruptcy in 2024 is $338.<\/p>\n\n\n\n<p>There are also some drawbacks to consider. One major disadvantage is asset liquidation. In Chapter 7 bankruptcy, nonexempt assets are sold to repay creditors, which could result in the loss of valuable assets.<\/p>\n\n\n\n<p>Furthermore, Chapter 7 bankruptcy remains on your credit report for up to ten years, making obtaining new credit in the short term challenging.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_and_Disadvantages_of_Chapter_13\"><\/span>Advantages and Disadvantages of Chapter 13<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One significant advantage is asset retention, as you can keep your property, including your home and car, providing stability and continuity for your family.<\/p>\n\n\n\n<p>Additionally, Chapter 13 offers a clear, court-approved payment plan to repay debts over time, which can make managing your finances easier. The fee for a Chapter 13 bankruptcy is $313.<\/p>\n\n\n\n<p>Nevertheless, certain drawbacks must be considered. The lengthy process is a notable disadvantage; Chapter 13 typically takes three to five years to complete and requires a long-term commitment to the repayment plan.<\/p>\n\n\n\n<p>A consistent income is required to qualify, which may prevent individuals with unstable or insufficient earnings. Also, it can <a href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/how-long-does-bankruptcy-stay-on-your-credit-report\/\">stay on your credit report<\/a> for up to seven years. During the repayment period, obtaining new credit can be difficult.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_Option_Is_Right_for_You\"><\/span>Which Option Is Right for You?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Deciding between Chapter 7 and Chapter 13 depends on your financial situation and goals. If you need prompt relief from overwhelming debt and can part with nonexempt assets, Chapter 7 may be suitable.<\/p>\n\n\n\n<p>If you have a sufficient income or a steady income and want to keep your secured property, Chapter 13 might be the better option.<\/p>\n\n\n\n<p>Consulting with Fleysher Law can help you assess your circumstances and make the best choice for your financial future.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Contact_Fleysher_Law_To_Schedule_a_Free_Case_Consultation_With_Our_Bankruptcy_Attorney\"><\/span>Contact Fleysher Law To Schedule a Free Case Consultation With Our Bankruptcy Attorney<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"480\" src=\"https:\/\/fleysherlaw.com\/wp-content\/uploads\/2024\/07\/Contact-Fleysher-Law-to-schedule-a-free-case-consultation-with-our-bankruptcy-attorney.jpg\" alt=\"Contact Fleysher Law to schedule a free case consultation with our bankruptcy attorney\" class=\"wp-image-18875\" style=\"width:387px\" srcset=\"https:\/\/fleysherlaw.com\/wp-content\/uploads\/2024\/07\/Contact-Fleysher-Law-to-schedule-a-free-case-consultation-with-our-bankruptcy-attorney.jpg 400w, https:\/\/fleysherlaw.com\/wp-content\/uploads\/2024\/07\/Contact-Fleysher-Law-to-schedule-a-free-case-consultation-with-our-bankruptcy-attorney-250x300.jpg 250w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/figure><\/div>\n\n\n<p>At Fleysher Law, we understand that the bankruptcy process can be overwhelming. <a href=\"https:\/\/fleysherlaw.com\/about\/\">Our experienced bankruptcy attorneys<\/a> are here to provide personalized guidance and support through every step of your bankruptcy case.<\/p>\n\n\n\n<p>Whether you are considering Chapter 7 or Chapter 13 bankruptcy, we will assist you in developing a personalized strategy for your needs.<\/p>\n\n\n\n<p><a href=\"https:\/\/fleysherlaw.com\/contact\/\">Contact Fleysher Law to schedule a consultation<\/a> to learn what options you should implement for a financially secure future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chapter 7 bankruptcy, or liquidation bankruptcy, involves selling non-exempt assets or property that can be used to pay off debt or repay creditors. In contrast, Chapter 13 bankruptcy involves making a court-approved repayment plan. Understanding the differences between Chapter 7 and Chapter 13 bankruptcy is essential for anyone facing overwhelming debt. If you are undergoing [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[],"class_list":["post-18872","post","type-post","status-publish","format-standard","hentry","category-bankruptcy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What&#039;s the Difference Between Chapter 7 vs Chapter 13 Bankruptcy?<\/title>\n<meta name=\"description\" content=\"Discover the key differences between Chapter 7 and Chapter 13 bankruptcy, including eligibility, benefits, and potential impacts on your financial future. Learn which bankruptcy option may be best suited for your situation. Contact Fleysher Law today!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fleysherlaw.com\/blog\/bankruptcy\/whats-the-difference-between-chapter-7-vs-chapter-13-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What&#039;s the Difference Between Chapter 7 vs Chapter 13 Bankruptcy?\" \/>\n<meta property=\"og:description\" content=\"Discover the key differences between Chapter 7 and Chapter 13 bankruptcy, including eligibility, benefits, and potential impacts on your financial future. Learn which bankruptcy option may be best suited for your situation. 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