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Having to file for bankruptcy can be devastating. And while it is a serious issue, there are several facts that many individuals do not know about bankruptcy as a whole. There are two notable types of bankruptcy: Chapter 7 and Chapter 13. To fully understand bankruptcy, it is very important to understand the differences.
What is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy, also referred to as a “wage earner’s plan,” gives individuals with regular income an opportunity to create a plan to pay off their debts.
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