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2 posts tagged Bankruptcy, newest first.
Chapter 7 liquidates non-exempt assets and discharges most debts in months; Chapter 13 keeps your property through a 3-to-5-year repayment plan. Eligibility turns on the means test.
Bankruptcy is a federal court process, not a credit counseling step. This guide explains the difference between Chapter 7 and Chapter 13, how the means test decides eligibility, and which debts survive even a successful discharge.