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Old 03-06-2010, 02:40 PM   #1 (permalink)
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fearnot's Avatar
Join Date: Mar 2006
Posts: 496

Bankruptcy...Chapter 7 or 13?

Well, after a couple of years of really struggling, It looks like my parents are going to have to file bankruptcy. They've seen a bankruptcy attorney but are still not clear on what option to choose.

Chapter 7 or Chapter 13.

They were told that with either option they will likely be able to keep there house and the car that they are upside down on.

Can you offer any input on the differences or why they should consider one over the other.


'06 GMC SLT LBZ C/C 4X4 Summit White, Light Pewter Leather
275/65/18 Toyo Open Country A/T E rated on 18x10's -10 offset
Footwell lights, front and back
"All lights on" mod
Loungers-Driver's and Passenger's
Under-hood reel-light
Trans Go JR installed