Differences between Bankruptcy Chapters

There are four main types of bankruptcy filings – they are known as Chapter 7, Chapter 11, Chapter 12 and Chapter 13. They vary in process, purpose and availability. There are scenarios each is better suited; some types are more appropriate for businesses, while others are meant for individual consumer bankruptcies. Click here to learn more.

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Bankruptcy Alternative: Do Nothing

Even if the creditor decides to sue and obtains a money judgment, under federal and state law, certain property and income is exempt from collection. Creditors cannot seize, through a court-ordered money judgment or otherwise, the following: Click here for a list of debts that cannot be seized by creditors.

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What is Chapter 9 bankruptcy?

Chapter 9 filings are set aside for municipalities to file for bankruptcy protection if faced with crippling financial problems such as high bond debt, increasing foreclosure rates and unpaid pensions.

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