If you are struggling with debt and the stress that comes with it, you may want to consider bankruptcy. Understanding the differences between Chapter 7 and Chapter 13 will help you make the right choice.
Bankruptcy is a way for individuals to eliminate - or greatly reduce - their debts. It is a legal process with many steps and complexities. The first step, when contemplating bankruptcy, is to determine whether you qualify for Chapter 7 or would benefit from Chapter 13.