Chapter 7
Easy to describe. You show the court all that you own and all that you owe. You exempt (keep) all or most of it. You stop your creditors from collecting from you - forever.
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Chapter 13
A court ordered debt consolidation, settlement and compromise plan. You pay some money to creditors over time and get rid of the rest of the debt at the end of the case. Usually you don't pay interest, you keep what you own. It's the only legal way to force a creditor to take a house arrears payment.
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Foreclosure Defense
Even if you owe mortgage payments, there are defenses that can sometimes be used in state court to stop a foreclosure and try to buy time to get a mediated settlement and loan modification.
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Chapter 13 is debt consolidation and settlement by court order.
There are defenses to foreclosures - know your rights
Chapter 7 stops the collection calls, the garnishments, and the harassment.
