I am often asked, what is the difference between chapter 7 and chapter 13 bankruptcy? Chapter 7 is a type of bankruptcy in which a debtor gets a fresh start. Chapter 13 is a type of bankruptcy in which a debtor pays all or a portion of his debt in a plan. CHAPTER 7 There are many factors which determine which type of bankruptcy is best for an individual.  First, if a debtor has previously filed a chapter 7 bankruptcy, she must wait 8 years before filing another chapter 7. Second, high … [Read more...]