Bankruptcy Criminal Defense Personal Injury Workers Compensation Civil Rights Family Law - Divorce, Custody, Adoption Chapter 7 Chapter 7 is a wipeout. Under the present law debtors, who qualify for a chapter 7, must file all their debt in a petition that must be filed with the court. Get a fresh start sooner. Chapter 13 Chapter 13 is a consolidation plan.
Debtors file all their debt in a petition filed with the court.
The debtor can value property. The debtor is not allowed to incur additional debt while in chapter 13 without the approval of the court. The creditors get an opportunity to vote to accept or reject the proposed plan. Property is valued as in a Chapter 13 matter. The time limits in Chapter 13 do not apply.