Chapter 7 bankruptcy, often referred to as liquidation bankruptcy, allows
for the discharge of most unsecured debts after non-exempt assets are
sold to pay creditors. In contrast, Chapter 13 bankruptcy is a reorganization
bankruptcy where debtors propose a repayment plan to make installments
to creditors over three to five years. The right chapter depends on your
specific financial situation, and our Jonesboro bankruptcy attorney can
help determine the best suited path for you.