A quick definition, first, of a Chapter 7 bankruptcy. It’s a legal maneuver to get out from under many types of unsecured debt for people who can no longer afford monthly pa… See more

Another way to differentiate Chapter 13 from Chapter 7 is that in a Chapter 13 bankruptcy, you keep everything – all your property – under a court-approved debt reorganizat… See more

Exempted property in a bankruptcy can include the car you need to drive to work and to the store for food. It can include the tools you need to do your job. It can include the house i… See more

Anything that isn’t protected in bankruptcy is considered non-exempt and, in Chapter 7, can be sold by the trustee to pay off creditors. In a Chapter 13 bankruptcy, the value of no… See more