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Old 12-08-2004, 01:40 PM
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Join Date: Dec 2004
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questions about the differeance in ch 7 and ch 13

What is the name of your state?indiana

I was wondering what the differenaces are and how much you have to have in dedit for each one. My husband went through a divorce about 4 years ago and sence then has got custody of the children. We are having a hard time making it with his and now my credit going down hill. thanks
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Old 12-08-2004, 06:22 PM
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Join Date: Feb 2002
Location: Nashville,TN
Posts: 15,706
There is no limit to the debt you can have to file. Well, there IS a cap on Ch 13's but is far, far more than most people make.

Ch 13 you pay back some portion of your debts for 3-5 years. ALL disposable income goes to the Trustee and you live on a VERY tight budget. 70% of all CH 13's FAIL.

Ch 7 all your debts (except secured) are discharged in about 4-6 months and you're free.

In both cases, disposable income is key.

I suggest you start reading here: [url]http://www.thebankruptcysite.com[/url]
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