The both, chapter 7 and Chapter 13, are consumer bankruptcy filing. The ultimate goal of both Chapter 7 and Chapter 13 bankruptcy is a discharge of debts and allow debtor a fresh start. In a Chapter 7 bankruptcy, a trustee can take the non exempt property, sell it and distribute the proceeds to your creditors so that they are repaid to the extent possible. Only those who pass the income “means test” can file Chapter 7 bankruptcy. Assuming you pass the means test and include all your debts in your paperwork, your debts are likely to be discharged within 4-6 months.
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Ronald Turner'S 