Chapter 7 vs. Chapter 13 Bankruptcy Comparison

This video outlines the differences of chapter 7 bankruptcy and chapter 13 bankruptcy, and provides information as to which option will be the best choice for you based on your financial situation.

[willcox]

He missed one very significant element re Chapt 13. In Chapt 13 you get to keep all your assets.

[shushmebro]

Something I just learned that surprised me - if the means test puts you over median income looking back at the past 6 months but your financial situation has drastically changed, you can actually challenge that. My lawyer is doing that now and says he’s had it work plenty of times.

To update this - had my 341 and it did indeed work out for a 7.

[towsonbestorthodontists]

Thank you for clearing up the differences. Very educational!

[MartinsMoneyMoves]

Excellent video. Easy to understand and straight to the point.

[Bankruptcypros]

Thanks Roger, very well done video and the Chapter 7 and Chapter 13 Bankruptcy information was spot on. Thanks again!

[RichardsWorld]

Don't pay the companies that you owe debt to. Pay some lawyers instead.

[jimkay]

Finally a no bullshit video on bankruptcy 👍👍👍👍👍👍👍👍👍👍👍👍👍

[patrickshemwell]

You said that in order to qualify for filing of chapter 7 that you are typically not allowed to have any disposable income but there are actually a number of states that will allow you to have up to 12, 000 dollars set aside known as a "wildcard" exemption....

[edboogie]

What would be a reason why a person would fail when they file a chapter 7 bankruptcy or is that 3% failure due to a person making too much money and having too many assets or is there some other reason?

[a_moon]

Really appreciate this information. THX

[tommythompson]

"Excellent Presentation" - "I WISH that you had a practice in Reno, Nevada ! - "Is there an attorney in Reno, NV, that might have been a "Fellow Student" in your law school class, that you would consider recommending?

[jettp]

Wow, attorney fees is only $1, 100? I filed Chapter 7 in Los Angeles County and attorney fees are around $3, 500. Thanks for the info about Chapter 7.

[yoshiitaco]

I owe around 10, 000 in credit card debt,
12, 000 in a car
And my insurance is 300 dollars
I feel I dont have money for myself
Always only on Bill's
Is it wise to file chapter 7 or no?

[AlejandroGonzalez-gqsp]

Thank you so much for your very helpful information

[garylouis-charles]

At the time of the video the answer was pending, but did the law pass in congress that would allow student loans to be dismissed by chapter 7 bankruptcy?

[dollbabieee]

I thought that the chapter 13 trustee monitors the case and the trustee charges a portion of your repayment for this.  So why does your law firm charge this and monitors too?

[anarsuazo]

Great video and very informative thank you for explaining the difference

[JohnFlynnAttorney]

75% of this guy's 13s may fail but that's probably because he doesn't know what he's talking about. "Median income" for instance is not the 6 month income on the means test, it's the State's median income which the Debtor is either above or below. 75% of my 13s succeed. This guy just doesn't know what he's doing.

[babygordo]

thank you very much  for the info . my question is if i file a chapter 7 can my car loan be wipe out?

[laurybaty]

Can you file bankruptcy on past due taxes to the IRS? And what are the rules regarding this?