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Last Will & Testament

Cost Comparison of Chapter 7 Bankruptcy and Chapter 13 Bankruptcy






  • Total Unsecured Debt of $50,000

  • Individual Chapter 13 Case will pay 100% of Unsecured Debt

  • Chapter 13 Plan will last 36 Months

  • No Equity in House or Cars which cannot be exempted

  • House Payment and Car Payments to be paid by Debtor Monthly (no arrearage owed)



Attorney fees are the average fees charged but could be higher in complex cases.



Other interesting facts: 


During the course of a Chapter 13 case, a Debtor cannot incur new debt without Court approval. A Chapter 13 Debtor must commit all of his disposable income to the repayment of his debt during the course of the Chapter 13 case.


In a Chapter 7 case, the Court does not supervise a Debtor’s post filing activities. In addition, all monies earned by a Debtor after the case is filed belong to Debtor free of the dischargeable claims of creditors.


Generally speaking, most mortgage lenders will consider a Debtor for a mortgage 24 months after the entry of their Chapter 7 discharge.








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