Seven (7) Major Differences Between Debt Settlement and Bankruptcy: The Pros and Cons of Each
Types of Programs a. Bankruptcy. The two most common forms of consumer bankruptcy are Chapter 7 and Chapter 13. Under a Chapter 7 bankruptcy, commonly referred to as "total liquidation," the consumer may discharge most of their debt (with taxes and student loans being the major exception). Under a Chapter 13 bankruptcy, referred to as a reorganization of debt, the consumer presents a plan for repa…Read More
