Chapter 7 vs Chapter 13 Explained
- May 22
- 1 min read
Special Episode 2, Short 2
Chapter 7 bankruptcy is a liquidation process where a trustee may sell assets to repay debts, while Chapter 13 is a structured repayment plan designed to help individuals catch up over time. Chapter 13 is often used by people who want to keep their home, with repayment plans that can extend up to 60 months, though many aim to clear mortgage arrears within three to four years when possible.
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Contact Newport Beach Real Estate Attorneys today -- go to NewportBeachRealEstateAttorney.com or call (800) 233-8521 for a complimentary phone consultation.
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