Articles Tagged with Chapter 7 vs Chapter 13

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 13 bankruptcy?”

A recent article in Bloomberg discussed something that many people may not be aware of: racial bias may play a role in something as mundane as bankruptcy filings. How does race impact bankruptcy? According to several studies, minority groups, specifically African American debtors, are vastly more likely to be steered to Chapter 13 rather than Chapter 7 bankruptcy protection.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get rid of student loans by declaring bankruptcy?”

The reason most people feel forced to consider filing for bankruptcy is because their debts increase to unsustainable levels. Whether it’s a few large debts or many small ones, the total amount owed becomes too much to keep up with, requiring you to consider filing for bankruptcy. The hope is that bankruptcy wipes these debts away, allowing you to start fresh with a clean slate. Though that’s the goal, it’s unfortunately not always the reality. The reason is that some debts can’t be easily escaped and can instead follow you despite filing for bankruptcy protection. To learn more about which debts are hardest to shake, keep reading.