What are the main differences between Chapter 7 and Chapter 13 bankruptcy?

Bankruptcy can be a tough time in anyone's life. You likely have many questions about the process. In this video, learn about the main differences between Chapter 7 and Chapter 13 bankruptcy?

The main difference between Chapter 7 and Chapter 13 is how assets are dealt with.
Chapter 7 results in the liquidation of any assets and the funds are used to repay creditors.
Chapter 13 provides protection for assets and debtors are given the opportunity to repay their debts over a course of several years.
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